Setting up a Civil Partnership
Civil Partners enjoy the same tax and other advantages as married couples.
To set up a civil partnership in England or Wales, both partners must be eligible, meaning they are over
Redundancy pay and tax
There is a tax-free limit of £30,000 for redundancy pay regardless of whether it is your statutory redundancy payment or a higher payment from your employer.
If you have been
VAT group registration
There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person
What is fiscal drag?
The freezing of tax thresholds often leads to a phenomenon known as fiscal drag. When tax thresholds remain unchanged, taxpayers will likely pay more tax as their earnings rise
Higher rate relief pension contributions
You can typically claim tax relief on private pension contributions up to 100% of your annual earnings, subject to certain limits. Tax relief is applied at your highest rate of
Current rates for Capital Gains Tax (CGT)
CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain,
Gifts and Inheritance Tax
Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known as "potentially exempt transfers" (PETs), can become fully
Business cashflow
The government offers the following information regarding business cashflow.
If you do not have enough money coming in to pay for goods, services and taxes your company has, you
What is fuel duty?
The Office for Budget Responsibility (OBR) has offered the following explanation:
“Fuel duties are levied on purchases of petrol, diesel and a variety of other fuels. They
Is there a partnership in place?
A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with the intent to make a profit. Partnerships can take various
Not so Trivial Tax Benefits
There is a trivial benefit-in-kind (BiK) exemption for small, non-cash employee benefits. This exemption applies to BiKs classified as 'trivial,' helping employers simplify the
Two October self-assessment deadlines
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of a self-assessment return will generate a £100 late