5 Dec 2022 | Personal tax
If you’re undergoing a divorce settlement, there are some situations where you’ll need to pay tax – either on the money, assets or property transferred as part of the divorce, or on any income generated from assets you receive. During what can be a drawn-out,...
26 Jan 2022 | Income tax, Personal tax
Taxpayers now have until 28 February 2022 to file their 2020/21 returns, although 31,000 did theirs over the Christmas period.
22 Jun 2020 | Personal tax
Earlier this year, it was far from certain that the final increase to the residence nil-rate band would go ahead. Such was the clamour for change to inheritance tax prior to the Spring Budget back in March, rumours were rife that this could be abandoned. The £100,000...
25 Nov 2019 | Personal tax
Extracting profits from a limited company has traditionally been done using a combination of salary and dividends. A director would pay themselves slightly less than the tax-free personal allowance and take the rest in dividends. Big tax savings were available for...
28 Oct 2019 | Personal tax
Three potential changes to capital gains tax could have a significant impact on people who make profits from selling homes in 2020/21. This triple whammy will affect those who have a main residence and let it out, perhaps while working away or going through separation...
23 Sep 2019 | Personal tax
It’s almost a year to the day since HMRC published a set of rules on income generated from overseas assets. The requirement to correct legislation required UK taxpayers to declare any foreign income or assets to the Revenue before 30 September 2018. From that point...
