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What qualifies for First Year Allowances

Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow ...
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Directors and National Minimum Wage

Company directors or any other person who has been appointed to a position by a company or organisation but doesn’t ...
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Paying stamp duty on share transfers

Stamp Duty is paid on shares bought on a stock transfer form. A stock transfer form is the standard form ...
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IHT claiming business relief

There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT) if you inherit the estate ...
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Gifts to spouse or charity

In most cases, there is no capital gains tax (CGT) to be paid on the transfer of assets to a ...
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3-months to Self-Assessment filing deadline 2021-22

There are now less than 3-months to file your 2021-22 Self-Assessment tax return electronically. Last year over 12.5 million taxpayers ...
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Tax Diary November/December 2022

1 November 2022 - Due date for Corporation Tax due for the year ended 31 January 2022. 19 November 2022 ...
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IHT gifts with reservation of title

The majority of gifts made during a person's life are not subject to tax at the time of the gift ...
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Private Residence Relief garden and grounds

In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family ...
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New VAT Registration process for agents

A new VAT registration process known as the VAT Registration Service or VRS was made available to agents from 1 ...
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Half-term help with childcare costs

HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for October half-term holiday ...
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Flexible subsidies for businesses from 2023

The Department for Business, Energy and Industrial Strategy has announced that the new UK subsidy regime will come fully into ...
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SA taxpayers target for fraudsters

Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for submission of Self-Assessment returns for ...
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Unlawful estate agency businesses

The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to ...
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Utilising CGT losses prior to death of taxpayer

Usually, if you sell an asset for less than you paid for it you would make a capital loss. As ...
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VAT Flat Rate scheme

Using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual ...
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Deadlines 2021-22 Self-Assessment tax return

The 2021-22 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2022. Late submission ...
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Second cost of living payment

Back in May 2022, the then Chancellor Rishi Sunak announced a package of support measures targeted mainly to the most ...
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Donations through Gift Aid

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can ...
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Chancellor statements – 17 October 2022

The new Chancellor of the Exchequer, Jeremy Hunt, was only appointed on Friday 14 October 2022. However, following another turbulent ...
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Prime Minister’s statement – 14 October 2022

The Prime Minister, Liz Truss delivered a hastily arranged press conference on Friday 14 October. At the press conference, the ...
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What Self-Assessment items can be stoodover by HMRC?

A stand over can be used to postpone certain Self-Assessment payments due to HMRC. There are two types of stand ...
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Jeopardy amendments

A jeopardy amendment can be made to a taxpayer’s Self-Assessment return as part of an S9A general enquiry. A jeopardy ...
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Residential Property Developer Tax

The Residential Property Developer Tax (RPDT) is a new tax on large residential property developers that came into effect on ...
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