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HMRC launch offshore property owners campaign
It has been reported by the Chartered Institute of Taxation (CIOT) that HMRC is to launch a new campaign to tackle non-compliance linked to offshore corporates owning UK property. HMRC has conducted a
Claiming Corporation Tax losses
Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or
HMRC interest rate changes
Following the recent increase in the Bank of England base rate from 2.25% to 3% HMRC has confirmed there will be changes to the rates of interest they charge.
The BoE’s Monetary Policy Committee
Tax Diary November/December 2022
Tax Diary November/December 2022
1 November 2022 – Due date for Corporation Tax due for the year ended 31 January 2022.
19 November 2022 – PAYE and NIC deductions due for month ended 5 November
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 were required to complete a Self-Assessment tax return but over
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 spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes
IHT claiming business relief
There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT) if you inherit the estate of someone who had died.
One of these reliefs is known as IHT Business Relief and
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 used for transfers of shares from one person to another. If you use a stock transfer to buy
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 have a contract or receive regular payment as office holders are neither employees
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 benefit of accelerated tax relief is designed to encourage
