02 Feb 2015
February 2, 2015

Is your income approaching £100,000?

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If you estimate that your taxable income for 2014-15 will marginally exceed £100,000, perhaps for the first time, you should consider your options. If your income does exceed £100,000 then for every £2 that your income exceeds this amount your personal tax allowance will be reduced by £1. As the basic personal allowance is £10,000.. read more →

22 Oct 2014
October 22, 2014

Self Assessment Penalties

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No one likes the idea of getting a penalty from HMRC. I have explained below the most common penalties and how to avoid them. Self Assessment returns need to be filed by anyone whom HMRC has sent a notice to, generally: ~ company directors ~ self employed / partners in a partnership ~ people with untaxed income,.. read more →

24 Sep 2014
September 24, 2014

The non-resident landlord scheme

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Under which circumstances should tenants pay their landlord’s tax direct to HMRC? There is an obligation on letting agents and tenants to operate the non-resident landlord scheme (NRL scheme) under certain conditions. Letting agents of a non-resident landlord must: deduct tax from the landlord’s UK rental income; and pay the tax to HMRC. Tenants (where.. read more →

16 Sep 2014
September 16, 2014

A precious gift

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A gift to a charity or community amateur sports club (CASC) is precious in many ways. It expresses your appreciation in a beneficial way and potentially helps the charity/CASC continue doing what they do into the future. If you decide to gift aid your donation it also allows them to reclaim basic rate tax on.. read more →

09 Sep 2014
September 9, 2014

CGT on property held by non-UK residents

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The government has issued a consultation document on implementing a capital gains tax charge on non-residents disposing of UK property.  The charge is to take effect from April 2015. The initial consultation period has closed and the government is considering the representations made. Many questions remain to be answered: will principal private residence relief be.. read more →