The settlement legislation is intended to prevent an individual from gaining a tax advantage by diverting his or her income to another person who is liable at a lower rate of tax or is not liable to Income Tax.
Where a settlor has retained an
A recent investigation by the House of Commons Committee of Public Accounts, in connection with the UK passport office, has found that hundreds of thousands of applicants faced unacceptable delays in receiving their passports.
Following the removal
There does seem to be a trend to replace human interactions with automated AI systems. This is especially evident in the management of our tax system.
There was a time, many years ago, when each taxpayer’s tax affairs would be managed by a local tax
The GOV.UK website offers the following guidance if you are considering a patent application.
A UK patent may help if you want to take legal action against someone who uses your invention without your permission. For example, if they sell or
HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for childcare costs. The scheme was used by almost 650,000 families during the 2022-23 tax year. This represented a significant increase over the previous
Fraudsters often try to take advantage of the 31 July deadline for submitting tax credits renewal information.
The fraudulent emails, texts or calls claim to be from HMRC and often promise money back in the form of a tax rebate together with a
There are a number of reliefs available that can reduce liability to IHT. Of most interest to farmers is the Agricultural Property Relief (APR). Relief is available at a rate of 100% or 50% depending on who farms the land and how long the land has
HMRC has issued an updated version of their online guidance entitled ‘Check if a text message you’ve received from HMRC is genuine’. The guidance provides a current list of genuine text messages issued by HMRC.
The list has been updated to include
If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place, then the loss should be an allowable deduction.
These allowable losses are
If your personal details change you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.
For example, you need to tell HMRC if:
you get married or form a civil partnership; or
you divorce,
1 July 2023 – Due date for corporation tax due for the year ended 30 September 2022.
6 July 2023 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.
19 July 2023 – Pay Class 1A NICs (by the 22 July
In a recent post we warned of the likely loss of billing opportunities if you give away service advice just to demonstrate how informed you are.
In this post we outline when it may be appropriate to volunteer information or other free offers in
Charities can claim Gift Aid on donations made by eligible taxpayers. This can boost donations by an extra 25% if the donor makes a Gift Aid Declaration (GAD).
To claim Gift Aid, charities need to obtain a Gift Aid declaration from the donor. It
If you are selling your company, there are important actions you must take to properly finalise your affairs. Please note that this is not an exhaustive list, and it is important to check what else may be required.
We have summarised below some of
Some 400 HMRC helpline service advisers who are members of the Public and Commercial Services (PCS) Union have been on strike intermittingly since 10 May 2023. These strikes are by staff working in HMRC’s East Kilbride and Newcastle offices. The
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