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
Pension Credit action week
Pension Credits can provide extra income to those over State Pension age and on a low income. The Department for Work and Pensions (DWP) recently launched a Pension Credit action
Fraudsters impersonating Insolvency Service staff
The Insolvency Service is a government agency that provides services to those affected by financial distress or failure by seeking to tackle financial wrongdoing and maximising
Don’t miss out on Home Responsibilities Protection
HMRC together with the Department for Work and Pensions (DWP) have issued a press release urging tens of thousands of people to check if they are eligible to boost their State
What is a PSC?
PSC stands for Person with Significant Control. It is a legal term used primarily in the United Kingdom under company law. A PSC is someone who holds significant influence or