Under the current rules for determining which profits of an unincorporated business aretaxed in a particular tax year, some profits may fall to be taxed
Not all types of income are equal from a tax perspective, and savings income enjoysdedicated allowances, tax rates and reliefs which allow a taxpayer to
The January self-assessment payment deadline is not well timed, falling as it does in amonth when people may be already struggling to pay their Christmas
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January2022 if a late filing penalty is to be avoided. The
Capital gains tax (CGT) is levied on capital gains made on the disposal (including gifts) ofmost assets. However, if the disposal is of ‘business assets’
Throughout an accounting period a director will withdraw monies from the company againstthe director’s loan account (DLA), the withdrawals being satisfied usually by the taking
If you are self-employed and you received Covid-19 support payments during the pandemic,you may need to report these on your self-assessment tax return.If you are
A landlord will normally take a deposit from a tenant when letting a property to cover the cost of any damage caused to the property
The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorized pension charge (unless
The hospitality and leisure industry were particularly hard hit by the effects of the Covid-19 pandemic and associated lockdowns. To help the industry recover they
As part of the Government’s push to encourage drivers to ‘go electric’, the Transport Secretary, Grant Shapps, announced an extension to a £50 million Government
The deadline for filing the 2020/21 self-assessment tax return online is 31 January 2022. If you received income from property, you may need to tell
Legislation has been published in draft which will bring a new tax – the Residential Property Developer Tax (RPDT) onto the statute book. The publication
If you are responsible for bringing up a child who is under the age of 16, or under the age of 20 where they remain
The Adjudicators Office (AO) is a little known but powerful government department independent of HMRC. Its remit is to rule on whether HMRC have handled
When an asset is placed within a trust it is termed as being ‘settled’. However, the tax legislation defines the word ‘settlement’ widely as including
Working from home during the Coronavirus pandemic created a range of tax issues, not least where private bills, such as for internet usage, were paid
Spouses and civil partners benefit from special rules for capital gains tax purposes which allow them to transfer assets between them at a value that
Shared ownership can enable an individual to own a stake in a property where they would not otherwise be able to get on the housing
Furnished holiday lettings have a number of tax advantages compared to standard residential lets, and one of the key ones is the availability of business
