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HMRC tax credits scam warning
Fraudsters often try to take advantage of the 31 July deadline for submitting tax credits renewal information.
The fraudulent emails, texts or calls claim to be from HMRC and often promise money
Help with childcare costs
HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for childcare costs. The scheme was used by almost 650,000 families during the 2022-23 tax year. This
Check text messages from HMRC
HMRC has issued an updated version of their online guidance entitled ‘Check if a text message you’ve received from HMRC is genuine’. The guidance provides a current list of genuine text messages
Overview of IHT agricultural relief
There are a number of reliefs available that can reduce liability to IHT. Of most interest to farmers is the Agricultural Property Relief (APR). Relief is available at a rate of 100% or 50% depending
Using Capital Gains Tax losses
If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place, then the loss should be an
What you must tell HMRC
If your personal details change you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.
For example, you need to tell HMRC if:
you get married
Tax Diary July/August 2023
1 July 2023 – Due date for corporation tax due for the year ended 30 September 2022.
6 July 2023 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A
Voluntary “give-aways”
In a recent post we warned of the likely loss of billing opportunities if you give away service advice just to demonstrate how informed you are.
In this post we outline when it may be appropriate to
Selling your home – taxes to pay
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. An investment property which has never been used will not qualify. This relief from CGT is
Selling all or part of your company
If you are selling your company, there are important actions you must take to properly finalise your affairs. Please note that this is not an exhaustive list, and it is important to check what else
