It is possible that your estate will pay no IHT on the valuation of any business assets. The amount of relief available depends on the type of assets held at death. Your estate may be able to claim 50% or...
Government have set out a list of six actions that all businesses who continue to trade with EU customers or suppliers should complete now that the formal transition has ended.. The list is: Goods - if you import or export...
Couples may have experienced the difficulties that can arise when couples separate or divorce. One area where they may need to resolve are the options that courts have to direct ownership of the marital home. The courts can exercise their...
January is the month that taxpayers registered for self-assessment need to pay their taxes. Usually, this amounts to any underpayment for the previous tax year and a first payment on account for the current tax year. Unfortunately, HMRC will base...
There is a major advantage to recording business transactions digitally; once the basic data has been entered it can be interrogated and represented in endless types of reports. During the present COVID disruption this ability to drill down or summarise...
We have prepared the following lists from information published on the GOV.UK website. It sets out which businesses are required to close, and which can remain open during the current COVID lock-down. Those required to close face compounded financial difficulties...
Readers who have not yet filed their 2019-20 self-assessment tax return for 2019-20 have less than one month to do so. The online filing deadline is 31 January 2021. Could clients reading this article, who have not supplied all the...
The turning of the old year into the potential for the new year has usually generated the Happy New Year salutation. And indeed, we do wish our readers all the very best for 2021. But what challenges we face. Will...
We already have more than our fair share of adversity to deal with at present, don’t let criminals add to your woes by defrauding you of hard-earned cash resources. HMRC has recently published a warning to taxpayers about scammers posing...
In just three short months the present tax year – 2020-21 – will end midnight, 5th April 2021. The UK’s tax code is predominantly time limited. Any reliefs and exemptions from UK taxes for 2020-21 will mostly expire at the...