19.08.2017
Paying voluntary NICs (national insurance contributions) can make a difference to your entitlement to your state retirement pension and certain other state benefits. There are various reasons as to why gaps may arise in your NIC record – you may have had low earnings for several years, been living abroad, or been unemployed and have[…..]
12.08.2017
HMRC have recently sent out notifications regarding tax on income and assets abroad. They want taxpayers to be aware that tax authorities are sharing a range of data on financial accounts, and will be using that data to check that all income has been properly declared. HMRC is receiving an unprecedented amount of information about […..]
30.06.2017
It’s nearly time to pay the second payment on account. What are the consequences if you fail to pay a Self Assessment tax payment on time. If you are facing cash-flow issues, and cannot see how you can afford to settle part, or all of your tax payment due 31 July 2017, what is the[…..]
23.06.2017
An example may illustrate the answer to this question. Harry updates his iPad and decides to sell his old one – he does not use the iPad for his employment or any business, it’s used purely for recreational purposes. He sets up an account on eBay and manages to sell for a reasonable price. Encouraged,[…..]
17.06.2017
Principal Private Residence (PPR) relief from capital gains tax is applicable when you sell a property that has at any time been your only or main residence. But what if you are selling part of your garden? PPR Relief is also given against gains arising on a disposal of land which you have for occupation[…..]
10.06.2017
A VAT registered businesses whose turnover is under £1.3 million can apply to use the VAT Annual Accounting Scheme. The attraction is that it means you only submit one VAT return each year and pay a fixed monthly amount to HMRC, based on the previous year’s liability. But then, of course, a balancing payment is due[…..]
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