Tax Guide’s Personal Tax section offers news and features to inform and guide you through all your personal and family tax needs. The Business Tax section offers insight and guidance for all the self-employed or small business owner needs to organise all their tax requirements.
Business Tax
Latest
Business Tax
Latest
Key business tax reliefs remain
Business owners had some relatively good news from the Chancellor Phillip Hammond MP, in the Autumn Budget statement as Entrepreneur’s Relief and the Annual Investment Allowance remained intact and for the self employed and small business owners themselves will benefit from income tax threshold rises.
Property investment and Business Property Relief dilemma
The question as to when a business property investment is not an investment is a tricky one. Jackie Hall, tax partner at accountants RSM offers an answer
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IR35 tax threat still an issue
Small businesses are said to be immune – at the moment – from the implications for employers and employees of the Government decision to roll out off payroll working IR35 rules to the private sector following their application in the public sector.
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Personal Tax
Latest
Boost your finances through HMRC savings and reliefs
HMRC doesn’t just collect tax, it also offers many ways in which you can save on tax and boost your finances
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Higher income child benefit penalties refund due
As it appears that HMRC is to review penalties imposed in higher income child benefit charge cases and that these could be refunded, Sarah Saunders, tax manager and Mike Downs head of tax investigations at accountants RSM, welcome the move.
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Personal Tax
Latest
Call to use life insurance in trust as more than 6.9 million parents give children inheritance early
Over 6.9 million parents have given their children 'their inheritance' early, to try to reduce the amount of inheritance tax payable on their estates. This amounts to a total of £227 billion, at an average of £32,920. A further 6.5 million parents have not yet transferred assets to their kids but plan to do so in the future to avoid a hefty inheritance tax bill, according to Direct Line Life Insurance.
Government cuts self-funded work-related training tax relief
The Government announced on the Autumn Budget Day that it has decided not to extend the existing tax relief for self-funded work-related training, for employees, the self-employed, or for retraining.
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Buy to let landlords hit in Budget with capital gains tax relief restrictions
Buy to let landlords suffered another disappointment in the Autumn Budget Statement with the announcement from the Chancellor Philip Hammond MP, that from April 2020 lettings relief will be reformed so that it will only apply where the owner of the property is in shared occupancy with the tenant and that the final period exemption will also be reduced from 18 months to 9 months.
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Business owners’ views on tax simplification sought
Businesses are being invited to share their views about which parts of the tax system are particularly complex and hard to get right and to offer suggestions for improvements.
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Personal Tax
Latest
As the cost of probate soars – six reasons why you need to plan for inheritance tax
The Government’s recent changes to probate fees has put fresh focus on what individuals can do to protect their estate and what they leave to loved ones from the ravages of inheritance tax. Samantha Downes, editor of our sister title What Investment online highlights what individuals can do
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HMRC addresses Child Benefit Penalties
HMRC has announced that it is reviewing cases where a ‘Failure to Notify’ penalty was issued to customers who did not register for the High Income Child Benefit Charge
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Pension freedom tax rebates due
Many individuals accessing their pensions, which since April 2015 they have been able to do from age 55, are paying too much tax on their withdrawals.
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