Personal tax

Tax / Investors’ relief – how to reduce capital gains tax liability

Stephanie Webber, tax writer at Croner-i, explains how to use capital gains tax (CGT) relief of up to £1m on gains by taking advantage of the reduced tax rate using investors’ relief, effective from April 2019, highlighting potential pitfalls and interplay with entrepreneurs' relief

Tax / Errors on self assessment statements are a 'fiasco'

Some taxpayers face unexpected tax bills due to a technical error with HMRC’s IT system which means that self assessment statements were sent out with the wrong information

Tax / Ingenious film scheme ruled tax avoidance at appeal

HMRC has scored a win at the Upper Tribunal as judges rule that the Ingenious film scheme was tax avoidance with the tax authorities expecting to recoup millions in unpaid taxes

Tax / OTS reviews tax reporting for self employed

The Office of Tax Simplification (OTS) has launched a project to review tax reporting and payment arrangements for self-employed people and buy-to-let landlords

Tax / Number of inheritance tax investigations increases

One in four estates face investigations over their inheritance tax (IHT) payments as HMRC ramps up anti-avoidance activity with probes into £1.3bn worth of tax liability

Tax / Company cars: statutory mileage allowance - part 3

Julie Clift, tax writer at Croner-i, looks at the tax implications when a company reimburses an employee for using their own car on company business, taking into account the latest statutory mileage rates

Tax / Third of tax credit claimants need to renew by 31 July deadline

HMRC is urging taxpayers to renew tax credits as there are just six days to go before the 31 July 2019 deadline, otherwise payments will stop

Tax / Advance loans in disguised remuneration schemes break tax rules

HMRC is warning that some disguised remuneration schemes used by umbrella companies to avoid income tax and National Insurance contributions (NICs) by using loan advances contravene tax rules

Tax / Will Boris suffer a bedroom tax?

As Boris Johnson prepares to become prime minister, Chris Etherington, partner at RSM, examines his potential tax bill from income to property taxes on multiple residences, personal earnings to tax reliefs, not to mention the future prospect of the public duty cost allowance (PDCA)                           

Tax / Higher rate taxpayers see hike in Scottish tax bills

The number of higher and additional rate taxpayers in Scotland is growing at a faster rate than the rest of the UK as the tax burden has shifted to higher earners

Tax / Q&A: 'main' residence versus bolt-hole for higher rate stamp duty

In our regular Q&A, Alexandra Fielding CTA, tax adviser at Croner Taxwise, considers the capital gains tax implications if a couple sell one of their homes, currently used as the family home but not designated as the primary residence for tax purposes

Tax / Company cars: fuel benefits - part 2

In the part two of our series on company cars, Julie Clift CTA, tax writer at Croner-i, explains how to assess fuel benefits and tax liabilities

Tax / Top tax tips: when expenses are non deductible against income

Jonathan Amponsah, founder of The Tax Guys, gives a rundown of 10 expenses which cannot be claimed against income even if incurred for business, highlighting potential tax traps after HMRC wins in Healy and Samadian expenses cases

Tax / ECJ ruling sees red diesel outlawed for pleasure boats

Private pleasure crafts will no longer be able to use red diesel on UK waterways as a result of a European court ruling

Tax / Tax planning: lasting power of attorney for farmers

Setting up a lasting power of attorney is a  shrewd move for farmers as they prepare to pass their business to the next generation, giving them flexibility and protection from a punitive tax bill, says Julie Butler of Butler & Co
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