Changes to lettings relief and other exemptions April 2020
Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the...
23 Jan
Income Tax
Category Archives: Income Tax
Income Tax
Reducing payments on account
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on: 31...
Income Tax
Could you claim the Marriage Allowance?
If you or your partner are a low earner or not working, then you may be eligible for the marriage allowance. The marriage...
Income Tax
Remaining age related tax allowances
Most age related tax allowances have been phased out. However, the Married Couple's Allowance (MCA) is available to elderly married couples or those...
Income Tax
Tax if clients leave the UK to live abroad
The P85 form should be completed by individuals or their agents to advise HMRC that have left the UK to live or are...
09 Jan
Income Tax
Cash basis option for landlords
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme...
02 Jan
Income Tax
Did you file your tax return Christmas Day?
A new press release by HMRC has highlighted that 2,616 taxpayers took the time to file their tax return online on Christmas Day...
02 Jan
Income Tax
Don’t forget to pay your tax at the end of the month
The 31 January 2019 is not just the final date for submission of your self assessment tax return but also an important date...
12 Dec
Income Tax
Is your income approaching £100,000?
For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that exceeds £100,000 irrespective...
12 Dec
Income Tax
When is lettings relief available?
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief...