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Gift Aid tax relief

Gift Aid tax relief   This year, many charities have been heavily impacted by the coronavirus pandemic and have struggled to raise funds. Highlighting the prospects of tax reliefs on d...


Frequently Asked Questions Q. I have recently started a new job and, for the first time in my career, I have been provided with a company car. I have to pay for fuel for private use but my empl...

Repayment Claims for Tax on Interest

Repayment Claims for Tax on Interest   You may be able to claim a tax repayment from the Tax Office if your bank has deducted 20% tax from interest paid. If your tax-free allowance (up...

PAYE Refunds and Underpayments

PAYE Refunds and Underpayments   The Taxman has set his computer the task of recalculating the PAYE paid by many millions of people for the tax year 2010/11 and for the tax years 2003/...

State Pension: Is the state pension lump sum taxable?

State Pension: Is the state pension lump sum taxable? The lump sum is taxed as income. In simple terms, the rate of tax that applies to the lump sum will be the highest rate that applies to you...

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...

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...

Leaving the UK: a look at split-year treatment

Leaving the UK: a look at split-year treatment During 2020 it has been reported that the number of people leaving the UK was "unprecedented". The Economic Statistics Centre of Excelle...

Tax Advice

Tax Advice There’s no escaping it and with the government’s programme to increase the tax take, you need to make sure you aren’t paying more than you should. It could easily h...

Higher Penalties for Late Returns

Higher Penalties for Late Returns   This month, we have a warning. Please spread the word as HMRC mean business! Your personal self-assessment tax return for the tax year to 5 Apr...

Gifting Assets or Shares

Gifting Assets or Shares If you plan to gift assets or shares to your relatives, there are several taxes you need to consider: Capital Gains Tax You won't make an actual profit or...

Spring Budget 2017 - Individuals

Individuals Personal allowance and income tax threshold The personal allowance for 2017/18 is set at £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to ...

CGT (Capital Gains Tax) Payment within 30 days of the sale - coming for Property owners?

The Association of Taxation Technicians (ATT) is warning that owners of second homes and buy-to-let (BTL) landlords may face a much shorter period in which to pay any capital gains tax (CGT) due on...

New Pensioners to Receive Tax Bills

New Pensioners to Receive Tax Bills If you first received your state pension after 5 April 2010 you may have to pay an unexpected tax bill. This is because of yet another programming error w...

Use gift Aid to save tax

HMRC have recently highlighted that charities are collectively missing out on some £600m extra funding because a third of donations made do not add Gift Aid when they could have don...
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