Hello everyone, this month we are covering tax investigations, tax return completion, child benefit and inheritance tax – is it relevant to you? As always, if there are any questions please let me know.Kind regardsSimon Tax investigationsThe thought of a tax investigation or visit from HMRC can be worrying for many. Some HMRC enquiries are […]
August 2023 Update Read More »
As summer holidays are looming for many there are still a few tax and financial issues to consider. Self-assessment tax payments due by the end of the month and its time to send in tax return details soon if you have not already done so, please see below for more details. We also cover below
Since April 2020, all UK residential properties disposed of by UK resident taxpayers – that create a taxable gain for Capital Gains Tax (CGT) purposes – will have to be reported to HMRC within 60-days of the disposal. Any CGT payable will have to be paid over to HMRC in the same 60-day window. Generally,
60 days to pay capital gains tax If you sell chargeable UK residential property Read More »
Tax Returns! We are now nearly two months into the new tax year and it is time to think about completing tax returns! Tax return information should be available with banks and brokers making annual reports available online or sending them out and employers issuing end of year details. We are asking all clients to
June 22 Update – Tax returns Read More »
The annual tax-free capital gains allowance is £12,300. Consider selling assets, shares for example, that can be sold within the tax-free allowance. If your chargeable gains are likely to exceed the £12,300 limit, are there any assets you can sell at a loss to reduce the total gains below the tax-free limit? It is no
Year-end capital gains tax planning 2021-22 Read More »
There is just over a month to go before the end of the tax year. If you have not already started to do so it is time to start reviewing your finances to consider any actions required by 5 April. If your business year-end is also at the end of March then there will be
Christmas is usually a time for people to get together, and an opportunity for you to celebrate with your team. That’s been difficult in recent years, but this year, perhaps can be a bit better. So, instead of the usual Christmas party, why not do something a bit different? Don’t underrate team building As the
Christmas parties and other tax efficient options Read More »
The Chancellor, Rishi Sunak, presented his Autumn 2021 Budget and Spending Review on 27 October 2021. Before taking any action based on the contents of this update, please contact us to discuss what the Budget announcements will mean for you and that consider your unique business or personal financial circumstances. Impact on your personal taxes
Budget Impact Statement October 2021 Read More »
Application must be made before 30 Sept 2021 The final Self-Employed Income Support Scheme (SEISS) grant covers the period from 1 May 2021 to 30 September 2021 (five months). Online applications must be made before 30 September 2021 and the process is far from simple. This is an alert to self-employed traders that have not
Final SEISS claim’s deadline Read More »
A summary of the changes announced to increase funding for the NHS and social care budgets from April 2022 The National Insurance (NIC) and dividend tax increases announced yesterday will apply from April 2022 and will be repackaged, in part, as a Levy from April 2023. This Levy will also affect retired persons still
Tax increases to fund NHS and social care proposed Read More »
