As mentioned in last weeks tax chat, IHT planning need not be complicated. IHT savings can be achieved by a combination of elements, as follows:
It is easy to think that inheritance tax applies only to the very wealthy. However in many cases the value of the family home alone will put many into the inheritance tax bracket more »
We understand that HMRC have started to issue end of tax year reconciliations for 2015/16 for those who pay tax under PAYE. If you pay tax under self-assessment more »
We have all heard lots about the Panama papers and the Mossack Fonseca data leaks.
Any UK resident with links to the Panama law firm will undoubtedly be under a much increased risk of investigation by HMRC. But what does this mean for tax payers generally? more »
Amidst the constant pressure surrounding tax avoidance, it can difficult to forget the tax reliefs that are available to us and the importance of making sure that we maximise all such claims. more »
The UK has voted to leave the EU, so how will this impact on the tax regime? more »
2015/16 annual returns for employment related share schemes must be submitted by 6 July 2016. All returns now have to be submitted online. more »
A straight forward question but one that is not so easy to answer!
From 6 April 2016, finding out the rate of capital gains tax payable when you make a profit on the sale of a capital asset got a whole lot harder. more »
Many company shareholders, and business partners, personally own the trading premises from which their company, or partnership, operate. Charging the company rent to use the premises might be considered to be a tax efficient way of a shareholder extracting profits more »
The ability to claim entrepreneurs relief when a business is incorporated has, very confusingly, been changed several times over the last year. Due to the changes made this is an area where errors are very likely.
So what is the position now? Can a claim be made or not? more »