Shake up of UK tax system

Dec 02, 2014

The Scottish parliament is to take over responsibility for income tax and welfare benefits in the most significant devolution of taxes thus far.

Changes to the management of income tax and…

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The value of interim accounts

Nov 27, 2014

Many business readers of this blog will have their accounting year end set to coincide with the tax year end. For convenience, the end of March. As we approach the end of the calendar year you might…

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Update on State Pension changes

Nov 25, 2014

The government has launched a public information campaign to ensure everyone knows what the State Pension changes mean for them.

With just over 500 days to go, Work and Pensions Secretary…

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What is the rush

Nov 20, 2014

Readers who still need to file their 2014 self-assessment tax return may be asking themselves what’s the rush? After all, the deadline for filing the return is not until 31 January 2015: more than…

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Seven year ban for inadequate accounting records

Nov 18, 2014

It would seem that errant directors are not only being pursued by HMRC for sloppy accounting procedures. The Insolvency Service is now taking a more active interest.

Daniel Mark Holloway,…

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Tax on Pensions-Death

Nov 13, 2014

Currently if you die before you have started to draw your pension, the value of your pension fund will not usually be subject to inheritance tax (IHT) at 40%, as it is excluded from your estate. However,…

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Selling personal possessions and capital gains tax

Nov 13, 2014

There are a number of personal assets that you can sell without a risk that you are creating a CGT liability. They include:

  • your car
  • individual personal possessions worth…

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Failure to pay maintenance to affect credit rating

Nov 11, 2014

From March 2015 (subject to Parliamentary approval), the Child Maintenance Service and Child Support Agency (CSA) will begin sharing certain information about the payment records of their clients…

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Don't look gift aid opportunity in the mouth

Nov 07, 2014

There are precious few opportunities to make an arrangement after the end of a tax year, and carry the benefit back to impact tax liabilities of the previous tax year.

One such opportunity…

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