Tax
Taxes Made Easy
Practical tax tips to guide you through the tax system and help you plan to minimise your liability. This guide is designed to provide you with an overview of the key tax rules from seven perspectives - that of the family; the employee; the person running their own...
The 2 Year Rule
When you sell a property you’ve “lived in” the whole time, you don’t normally expect to pay tax when you sell it, do you? Typically nowadays you can make a gain and most people know that it’s not taxable. But what if you don’t actually move in straight away?
The Twin Tax Bombshells – coming to a street near you this April…
Back in April 2019 we mentioned some further tax traps if you are resident in the UK and you exchange contracts to sell a residential property from 6 April 2020…..
The Financial Problems of Leaving With No Deal
Got a No Deal Brexit? Get a Package of Problems!
If the UK leaves the EU without a deal, some important changes are being put forward by HMRC about the tax paid for parcels from abroad. These changes would affect most of us, whether we run a business or buy goods as individuals.
More Tax Traps for Home Owners
All Around the Houses, Once Again!
In our last blog on this topic, we looked at what can happen when you think that the house you’ve sold at a gain is tax-free and you get it wrong.
The Apparent Failure of the Self-Assessment System
“If You Don’t Ask, You Don’t Get…”
Is an adage that HMRC probably knows all too well at the moment. Due to a failure of the HMRC self-assessment system, some taxpayers haven’t been informed of the amount of tax to pay on account by 31 January 2019. This problem won’t be fixed before 31 July 2019.
Entrepreneurs’ Tax Relief in 2019: More Change Ahead?
“If You Don’t Ask, You Don’t Get…”
Is an adage that HMRC probably knows all too well at the moment. Due to a failure of the HMRC self-assessment system, some taxpayers haven’t been informed of the amount of tax to pay on account by 31 January 2019. This problem won’t be fixed before 31 July 2019.
PAYE Decoded
Check Your PAYE Code, Now!
Now is the time to check your PAYE code if you are an employee or a private pensioner because there’s only a short time to get any mistakes corrected.
Inheritance Tax – Be Ready for the Long Haul
No matter how good you or your solicitor or accountant are at doing the forms, the Inheritance Tax process is frustrating. Your competence doesn’t matter a row of beans if the Tax Office drag their heels. You can be subject to an all too familiar round of delays caused by human error, computer failure or staff shortages.
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