HMRC penalties on the rise – don’t get caught out
Posted by Karen Jones on May 29, 2024The taxman is stepping up his investigations and HMRC penalties are on the rise. We explain how to avoid getting hit by these unwelcome bills
Holiday home tax crackdown
Posted by Karen Jones on May 20, 2024HMRC is currently undertaking a holiday home tax crackdown, opening investigations into owners it believes aren’t paying the correct taxes.
Tax-free allowances 2023-24: a quick guide
Posted by Jon Pryse-Jones on May 20, 2024With the cost of living rising, it’s a good idea to make the most of your tax-free allowances. We look at the main ones available to you.
Gifts and Inheritance Tax: don’t fall foul of the rules!
Posted by Ian Henman on May 10, 2024Do you understand the complex rules governing gifts and Inheritance Tax? If not, HMRC could easily hit you with an unexpectedly high IHT bill.
HMRC incorrectly refunds Class 2 NIC payments
Posted by Karen Jones on May 2, 2024A glitch in HMRC’s systems has seen some Class 2 NIC payments wrongly refunded . Also, HMRC launches a new National Insurance online service.
Leasing electric cars: what are the tax benefits?
Posted by Mark Ingle on April 29, 2024Are you thinking about leasing electric cars for your business? In this article we look at the tax implications – and potential tax savings.
Late Self-assessment return? Penalties go up in May
Posted by Jon Pryse-Jones on April 25, 2024If you haven’t filed a late Self-assessment Tax Return by 1st May, you’ll get hit by penalties of £10 a day. Don’t fall into this trap!
Millions to become higher rate taxpayers – will you be one?
Posted by Karen Jones on April 22, 2024Millions of people are set to become higher rate taxpayers, thanks to a frozen personal allowance and wage increases. But can you avoid it?
When should you submit a 60 day CGT return by post?
Posted by Jon Pryse-Jones on April 18, 2024When you sell certain properties, you usually submit your 60 day CGT return online. In some cases, though, you must post your return to HMRC.
The Rent a Room Scheme – a brief guide
Posted by Karen Jones on April 12, 2024Did you know that, if you rent furnished accommodation in your main home, you could earn £7,500 tax free under the Rent a Room scheme?
