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Health and Social Care Levy

Please note that this is preliminary guidance, so may be subject to change.   What is the aim of the Social Care Levy? To support the NHS. To fund reforming social care a... more


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Inheritance Tax - Why Giving Away Money Can Mean More for the Beneficiaries’

Inheritance Tax - Why Giving Away Money Can Mean More for the Beneficiaries’ In most cases, it doesn't make sense to simply give away money to save tax during a person's lifetime.... more


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HMRC enquiries: is it in time?

HMRC enquiries: is it in time? The self-assessment system includes the right for HMRC to make enquiries to ensure the correct amount of tax is collected. However, these rights and the underlyin... more

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Loss Relief for Companies Ceasing a Trade

Loss Relief for Companies Ceasing a Trade Companies are able to relieve losses for tax purposes, subject to certain restrictions. These restrictions have been relaxed slightly in recent years, ... more


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Temporary hospitality VAT rate

Temporary hospitality VAT rate Currently, there is a temporary reduced VAT rate of 5% applicable to hospitality supplies (excluding alcohol). This was introduced in response to COVID19 last yea... more


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Loan Charge

Loan Charge Following the December 2019 review of the loan charge, a number of schemes were confirmed to be outside its remit. In particular, loans taken before 9 December 2010 and loans taken ... more

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Furlough Scheme

Furlough Scheme September is the final month of the furlough scheme, subject to any last-minute extension. Employers will need to top up the government's contribution, which is now 60% of w... more


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What is the taxable benefit on my company car?

I have been told I can choose a company car, subject to an overall spending threshold (including optional extras). Am I right in thinking that as long as the emissions do not exceed a certain thres... more

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What is ‘overlap relief’?

What is ‘overlap relief’? • This can occur when you have an accounting date ending other than between 31st March and 5th April. • It usually arises at the time when yo... more


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Watch Out Self-Employed Changes Ahead

Watch Out Self-Employed Changes Ahead Who does this affect? • Unincorporated businesses (sole-traders, partnerships, and limited liability partnerships) whose accounts year does not en... more


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Tax-Free Childcare and Summer Activities

Tax-Free Childcare and Summer Activities HMRC has issued a reminder to working parents that Tax-Free Childcare (TFC), the scheme the government phased in between 2017 and 2018, is not just for ... more


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Invalid VAT invoices

Invalid VAT invoices One of the fundamental requirements for re-claiming input tax on a VAT return is the need to have a valid VAT invoice. A valid invoice must include certain requisite inform... more

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Investors' Relief - The Forgotten CGT Break?

Investors' Relief - The Forgotten CGT Break? Investors' Relief (IR) was introduced in April 2016 to complement what was then called entrepreneurs' relief. IR is intended to encourag... more


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Self-employed-changes ahead

Finance Bill Published 20th July saw the publication of the draft clauses of Finance Bill 2022. Whilst there will inevitably be more announcements made at the autumn budget, there are two claus... more


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Property 30-day reporting issues

Property 30-day reporting issues April 2020 saw the introduction of 30-day capital gains tax reporting and payment for disposals of UK residential property where the gain is not covered by the ... more