Tax Tips and News
Selling the garden for development
Selling the garden for development If you own a large plot of land that you no longer require but you don’t want to move home, you may consider selling some of it for development. However, from a...
Capital gains tax on separation and divorce
Capital gains tax on separation and divorce Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a gain...
Enquiry or discovery – What is the difference?
Enquiry or discovery – What is the difference? Most taxpayers know that they must adhere to a rigid timetable for the submission of tax returns and claims, otherwise either penalties are levied or...
Rebuild your pension pot with rental income
Rebuild your pension pot with rental income A self-invested personal pension (SIPP) can be an attractive option for saving for retirement and is one that is popular with company directors. Under a...
The taxation of cryptocurrency
The taxation of cryptocurrency Cryptocurrency is a complicated concept and the following text gives HMRC's view on the basic rules. Modern cryptocurrencies were first described in 1998 but the...
Pension changes
Pension changes In his March Budget, the Chancellor announced a number of changes to the pension tax rules, including an increase in the annual allowance and the abolition of the lifetime allowance....
MTD and landlords – the new timetable
MTD and landlords – the new timetable Under the original plans, landlords with rental income (or combined rental and business income) of more than £10,000 would have needed to comply with Making Tax...
Associated companies and impending corporation tax rate changes – what are the tax implications?
Associated companies and impending corporation tax rate changes – what are the tax implications? Most directors know that as of 1 April 2023, companies with taxable profits in excess of £250,000...
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