Date posted: 24th Jul 2023
The main residence exemption applies for capital gains tax purposes to the extent that a property is used as the taxpayer’s only or main residence. Where a property…
Date posted: 24th Jul 2023
The tax system contains a number of exemptions, some of which are more useful than others. One of the more valuable exemptions is that for mobile telephones. As…
Date posted: 26th Jun 2023
Most people do not want to give money to the taxman when they die. However, while it is said that inheritance tax (IHT) is a voluntary tax that…
Date posted: 26th Jun 2023
The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal…
Date posted: 26th Jun 2023
If you have not yet completed your 2021/22 tax return, then you will be accruing daily penalties of £10. This could be a significant amount given that you…
Date posted: 26th Jun 2023
Dividends are a way to extract monies from a personal or family company. However, the rules surrounding dividends are strict and failure to comply may mean that HMRC…
Date posted: 26th Jun 2023
If you have provided any directors or employees with benefits-in-kind or issued/transferred shares to them, during the year to 5 April 2023, then you may have to report…
Date posted: 26th Jun 2023
It was announced recently that HMRC are closing their self assessment helpline for taxpayers for three months from 12 June 2023. This is to help HMRC resources and…
Date posted: 26th Jun 2023
The potential to be charged capital gains tax (CGT) arises with the sale or gift of an asset. Deferral of the charge is possible with reference to business…
Date posted: 7th Jun 2023
Good News! The government have extended a deadline to allow taxpayers to “top-up” their state pension entitlement , you can read more about it here. As stated in our…
