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“Time for a Wealth Tax”, Say the Rich.
The 2025 Sunday Times Rich List reveals that a small group of 350 families control £772 billion in wealth – enough to fund the UK’s
A Million Taxpayers Miss Filing Deadline
About 1.1 million taxpayers missed the deadline to file their self-assessment tax returns and pay tax that was owed, HMRC has estimated. The failure to
A new ’10p tax’ suggested to the Chancellor… by a billionaire
John Caudwell, billionaire and Phones 4u founder, has urged Chancellor Rachel Reeves to introduce a 10p per litre tax on petrol and diesel. He claims
Advisory Fuel Rates – MUST Be Effective 01 October 2023
The Advisory Fuel Rates (AFRs) have had their quarterly review and HMRC published revised rates from 01 September 2023. With rising fuel prices again, it’s not surprising
April Key Tax Dates 2025
5th Current tax year (2024/25) ends. That means it’s the final opportunity to use up any tax allowances or reliefs for that year, such as
Are Service Charges Included with Ground Rents on a Landlord Tax Return?
Q.3 Are service charges put in with ground rents for a landlord tax return? Where do you put service charges for a leasehold flat (as
August Key Tax Dates 2025
1st Corporation Tax payments are due for companies with a year-end of 31st October. 19th For employers operating PAYE, this is the deadline to send
Autumn Budget 2024
Introduction Significant changes to Employers’ National Insurance Contributions, Capital Gains Tax and Inheritance Tax were among the headline announcements in today’s Budget. It was clear
Billions Paid into Cash ISAs
UK savers deposited a record £14 billion into cash ISAs in April 2024, the highest monthly figure since ISAs were introduced in 1999. The surge
Bumper IHT Receipts Set to be New Record High
We‘ve seen plenty of speculation before the last two Budgets that Inheritance Tax would see major reforms. Yet nothing materialised. And the latest figures released
Can Capital Gains Be Rolled Over to Purchase a Buy-to-let Property?
Q.3 Can capital gains be rolled over to purchase a buy-to-let property? I have recently sold my furnished holiday letting (FHL) and made a small
Can Gifting My Home to the Children Reduce Inheritance Tax?
Can I gift my house to my two children (15 and 17 years old) to reduce inheritance tax (IHT), and is there then a period
Can I Avoid Inheritance Tax by Gifting Money Early?
Q: I’ve reached that stage in my life where I need to think about my estate and the amount of inheritance tax that may be paid
Can I Claim Tax Relief on a Discount Given to a Charity?
My company has discounted our services to a local charity by £2,500, compared to the normal cost for our services. Can that discount be classed
Can I Claim the Costs Incurred for Demolishing an Outbuilding?
I had an outbuilding demolished at my buy-to- let property to create car parking spaces for the tenant. Is the demolition of the outhouse (an
Can I Pay PAYE Less Often to Ease Cash Flow?
Q:I run a small business. Is there any way or means that I can pay PAYE less frequently to help with cash flow? A: Yes, if
Can I Still Claim Home Working Tax Relief After Covid?
Q:I claimed the home working entitlement during the Covid 19 pandemic. I still work from home now – should I still be claiming this tax
Can My Business Requalify as a Small Company in 2025?
Q: We run a business with a turnover of around £12.5 million for the last couple of years. Under the current rules, we’ve been classed as
Can You Rent to Family Members Under the Rent-a-Room Relief Scheme?
Our daughter lives with us currently and is paying rent. Is it possible to claim tax exemption up to £7,500 (it will be considerably less)
Capital Gains: Investors’ Relief Limit Cut Among Changes Revealed
One of the headline areas of tax reform in the Autumn Budget surrounded Capital Gains Tax. With rates altered by the Chancellor, it was one