Simple ways to reduce IHT bills
The National Insurance (NI) rates and thresholds are reviewed each year. HMRC has recently published the applicable amounts for the forthcoming 2022/23 year. What are the most important points for our clients to know?
HMRC confirms NI rates for 2022/23
The National Insurance (NI) rates and thresholds are reviewed each year. HMRC has recently published the applicable amounts for the forthcoming 2022/23 year. What are the most important points for our clients to know?
New guidance on property disposals
Anyone who has tax to pay on the disposal of a UK residential property must complete a special capital gains tax (CGT) return and make a payment within a short space of time.
HMRC announces one month late filing reprieve
The standard deadline for individuals filing a tax return is 31 January. Failure to meet this deadline usually means a £100 automatic penalty applies, even if no tax is owed. Why will an HMRC announcement bring relief to those struggling due to the pandemic?
Special reductions and late filing penalties
The First-tier Tribunal (FTT) has considered whether a taxpayer had a reasonable excuse for filing his tax returns late. While the issue was not unusual, the FTT’s ruling was. How might its decision help you reduce a late filing penalty?
Why you should maximise dividends when you can
Coronavirus has played havoc with dividends as a profit extraction method for owner managers of some companies and may have put them at a tax disadvantage for some time to come. How might a similar situation be avoided in future?
Super-deduction tax incentive extended
The “super-deduction” is a new tax incentive for businesses to purchase equipment. The qualifying conditions have now been relaxed to allow the tax break for some previously excluded items. What’s the full story?
HMRC plans to make self-assessment tax payable sooner
The government plans to demand quarterly or monthly tax payments from companies and individuals who pay tax through self-assessment. It won’t happen for at least two years. Have your say by responding to the consultation.