Making Tax Digital: remodelled and going ahead
Autumn Statement 2023 has confirmed the start dates for Making Tax Digital for Income Tax (MTD ITSA).
Tax relief on finance costs for residential lets
It may come as no surprise to learn that HM Revenue & Customs (HMRC) have started writing to those taxpayers who may have incorrectly completed the property pages on their tax return specifically in relation to the amount of tax relief that can be obtained on residential property finance costs.
What are the Capital Gains Tax (CGT) implications on divorcing?
Breaking up can be hard to do especially with no tax costs! Divorcing is complicated in itself, let alone trying to navigate your tax position. When a marriage or civil partnership ends, tax is probably the last thing that the separating couples want to think about....Key highlights from the UK Government Tax Day announcements
On 23 March 2021, the UK government held its first-ever ‘Tax Day’ whereby it published a series of tax documents and consultations. It is all a part of a move to strengthen policymaking and to help create a more “trusted, simple and modern tax system”.
5% penalty for late payment of tax waived until April 2021
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?
