Business Asset Disposal Relief changes
Business Asset Disposal Relief (BADR) offers a significant tax benefit by reducing the rate of Capital Gains Tax (CGT) on the sale of a business, shares in a trading company or an
Deduction of tax on yearly interest
The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation
Loss of personal allowance – the £100k ceiling
For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal
Business meetings – Face to face or online?
The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks.
Winning new contracts without offering punitive credit terms
In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain
Check if you can cash in a Child Trust Fund
HMRC has issued a press release urging 18-23 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 758,000 young
Inheritance Tax and CGT relief for national heritage assets
Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new
Understanding the tax implications of divorce
When a couple is separating or undergoing divorce proceedings, tax issues are often not the first thing on their minds. However, alongside the emotional challenges, it is important
The Marriage Allowance if circumstances change
Married couples and civil partners could save up to £252 a year by transferring part of one partner’s unused personal allowance to the other, but you may need to cancel the claim
What is the High Income Child Benefit Charge?
If your income exceeds £60,000 and you or your partner receive Child Benefit, you can now choose to pay the High Income Child Benefit Charge through your PAYE code instead of
Benefits of the VAT Cash Accounting Scheme
Waiting to be paid but still having to hand over VAT? The VAT Cash Accounting Scheme potentially lets you pay VAT only when your customer pays you, helping to ease cash flow
Risks of engaging employees as sham contractors
Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary