Inheritance tax in for an overhaul

Mar 05, 2018

The Office for Tax Simplification (OTS) has been tasked by government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently,…

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Tax-free childcare support expanded

Mar 05, 2018

From 14 February 2018, tax-free childcare is available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare.

According…

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Claiming expenses by the mile

Mar 05, 2018

A reminder that employees can make a claim for the business use of their own cars, motorcycles or cycles by logging their business mileage and applying an approved mileage rate.

Mileage allowance…

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Tax Diary March/April 2018

Mar 05, 2018

1 March 2018 - Due date for corporation tax due for the year ended 31 May 2017.

2 March 2018 – Self assessment tax for 2016/17 paid after this date will incur a 5% surcharge.

19 March…

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Just a few weeks to the end of the tax year

Feb 28, 2018

The 5 April 2018, is the next key marker for tax advisors, the end of the current tax year. Why is this date especially important?

Each tax year, taxpayers are granted a number of tax-free allowances,…

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Inheritance tax due for a shakeup

Feb 22, 2018

The government has tasked the department charged with simplifying our present tax system with taking a fresh look at inheritance task. The scope of their review has just been published. It says:

The…

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Requirement to correct tax due on offshore assets

Feb 20, 2018

A new legal requirement is included in the Finance (No. 2) Act 2017 that creates an obligation for anyone who has undeclared UK tax liabilities that involve offshore matters or transfers to disclose…

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This takes the biscuit

Feb 15, 2018

In a recent hearing before a tax tribunal, HMRC led the charge to insist that bicarbonate of soda (BoS) was a chemical not a food of a kind used for human consumption.

Why was this important?

HMRC…

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Intellectual property and Brexit

Feb 14, 2018

The Intellectual Property Office has issued commentary on the future of intellectual property (IP) issues following Brexit. We have copied in blow some of their comments to clarify various issues for…

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