01 Apr 2020 | Inheritance tax, Personal Tax, Property, Tax
If you inherited a property that you then sold for less than the property was valued upon death, you could get a refund for the difference of the Inheritance Tax (IHT). IHT is charged at 40% over the £325,000 nil-rate band allowance, so the figures can be significant....16 Feb 2020 | Personal Tax, Tax, Tax Planning
The UK tax year ends on 5 April 2020 and so February and March can provide a last-minute chance to save some tax with a bit of careful end of year tax planning. We’ve put together ways to minimise your tax bill below. Additional rate taxpayers If you earn...11 Feb 2020 | Personal Tax, Self-employed, Tax
Did you know that you are allowed to claim tax relief on your annual professional fees or subscriptions to some HMRC approved professional organisations? The costs are tax-deductible generally where you must have a membership to do your job or it is helpful for your...10 Feb 2020 | HMRC, Personal Tax, Tax
Did you know that you will be liable to a 5% penalty in addition to interest charges if your tax is paid more than 30 days late? Now that the 31 January 2020 deadline for filing your 2019/20 Self Assessment tax return has passed, don’t forget that HM Revenue &...20 Jan 2020 | Budget, HMRC, Personal Tax, Tax, VAT
The December 2019 General Election meant that the Autumn Budget that was meant to delivered by Sajid Javid, was delayed. The new Chancellor, Rishi Sunak will now deliver his first Post-Brexit Budget on Wednesday 11 March 2020. In summary, we are expecting that the tax...25 Nov 2019 | Charities, Personal Tax, Tax
Do you donate to charity and use Gift Aid? If you are a higher rate tax payer you should Gift Aid any donations you make to charity. You will be providing an additional benefit to the charity and you will also be able to claim tax relief on the payment. It’s a...