What are tax-free transfers for Inheritance Tax purposes

Oct 03, 2017

There are many reliefs for IHT purposes. They include:

  1. Business Property Relief – 100% relief for business assets including an interest in a business, a controlling interest comprising…

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Self-employed tax payments

Oct 03, 2017

Self-employed persons and other individuals who submit a self-assessment (SA) tax return should bear in mind that there are only three months until the electronic filing and payment deadline for 2016-17,…

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Pay your VAT monthly

Oct 03, 2017

If you find it difficult to manage quarterly payments to HMRC to settle your VAT, why not consider the VAT Annual Accounting Scheme (AAS).

With the AAS you:

  • make nine payments…

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Tax Diary October/November 2017

Oct 03, 2017

1 October 2017 - Due date for Corporation Tax due for the year ended 31 December 2016.

19 October 2017 - PAYE and NIC deductions due for month ended 5 October 2017. (If you pay your tax electronically…

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What can you do with tax losses

Sep 28, 2017

Tax losses can arise due to a difficult trading period. They can also be created if you invest in qualifying equipment and you are able to set this cost against your trading profits – if the cost of…

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What is subject to Stamp Duty Land Tax

Sep 26, 2017

Most of us are aware that we pay Stamp Duty Land Tax (SDLT), or the regional equivalents, when we buy a property, but that is just the tip of the iceberg. For example, if you give something of value…

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New Data Protection Bill

Sep 21, 2017

The Government has published the long-awaited Data Protection Bill that will incorporate most of the provisions set out in the EU General Data Protection Regulation. This will apply from 25 May 2018,…

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Claiming for employment related expenses

Sep 19, 2017

If you are employed, and this will include most directors, you can claim for expenses that you have paid for personally, to be set against your income liabilities for the relevant tax year.

You…

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When is a replacement an improvement

Sep 14, 2017

We are often asked by landlord clients to clarify the difference between a replacement item of furniture, furnishing, household appliances or kitchen ware, and a purchase that may be considered an improvement.…

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