Did you know that some capital gains are free of capital gains tax (CGT)? Talk to us to find out more about how to maximise your tax efficiency. Although you will pay CGT on most capital gains, there are some gains that are not subject to capital gains tax – and...
How your status affects the amount of tax you pay. For most UK citizens, the question of what income and gains should be included on their tax return is easily answered because they are both UK domiciled and UK tax resident. Anyone domiciled and resident in the UK...
Three grants worth up to £21,570 are taxable. A chunk of time has passed since the Self-Employed Income Support Scheme (SEISS) was launched in May 2020, following the onset of the COVID-19 pandemic. The first taxable grant, worth up to £7,500 in total, was paid out in...
How the third sector is assessed for tax. Anyone who’s involved in operating a charity knows how it differs from running a business, both in terms of motives and objectives. HMRC treats non-profit organisations and charities very differently to businesses, offering...
Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such...
Increasing house prices raise inheritance tax risk. Soaring house prices coupled with certain thresholds being frozen in the most recent Budget have the potential to drag more estates into the inheritance tax net over the coming years. Back in March 2021, Chancellor...
