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Monthly Tax Q&A
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 I still claim my 25% tax-free pension lump sum after taking monthly withdrawals?
Q. Can I still claim my 25% tax-free pension lump sum after taking monthly withdrawals? A. I cashed in my pension and took £600 per
Can I Write Off the Balance in my Plant and Machinery Pool with Full Expensing?
Q. In his Spring Budget, the Chancellor said ‘Full Expensing’ would Apply to Plant and Machinery. Does this mean I can Write Off the Balance
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 My Parents Let me have their House Without Being Subject to IHT or CGT?
I am 60 years old and live with my parents in the family home. My parents want to ensure that I receive their house when
Can Outsourcing Accounts and Payroll Benefit Your Small Business?
Q: We are Considering Outsourcing Our Accounts and Payroll Function, Even though They have Worked OK in-house ever Since We Set the Business Up. We are
Can Self-Employed Electricians Claim Training Costs?
Q: I’m a self-employed electrician. I want to undertake some training to help me run my business, but it’s quite an expense. Is there any way
Can Sole Traders Use the Annual Investment Allowance (AIA)?
Q: I am a sole trader and have been looking into how to keep my tax bill as low as possible. I’ve heard about an Annual
Can VAT be Claimed on a New Home Kitchen If Used for Business Purposes?
Q. I Work through My Own Company and the Business is Run from My Home. I Use My Kitchen for Entertaining Clients as well as
Can We Get Tax Relief as a Civil Partnership Couple?
Q: I recently tied the knot with my long term partner and we’re now in a civil partnership. A friend mentioned that there’s a possible tax
Can We Reclaim Inheritance Tax if Assets Sold for Less?
Q: We’ve sold inherited assets at less than the estate valued them at but have already paid the Inheritance tax (IHT) based on the higher valuation.
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 Tax on a Deceased Person’s Shared Property
Question: Ten years ago my husband inherited a share of his father’s property when he died as a joint owner with his partner. My father-in-law’s
Capital Gains Tax on Disposal of Property
Question: My father died in 2019 and my brother and I inherited a small commercial business unit. Probate is nearly complete now. If we sell
Capital Gains Tax on Sale of Joint-Owned Property: What to Expect?
Q. My Wife and I Lived in Our Joint-Owned Property for 12 Years and It is Now Let it Out, but We Plan to Sell
Capital Gains Tax on the Reinvested Proceeds
Question: I have owned and rented out a residential property for the last ten years, which I am now considering selling. I will use the
CGT Reporting Deadline
Capital gains tax (CGT) on disposals of UK residential property between 6 April and 1 July 2020 had to be reported to HMRC by 31
Change to partial exemption VAT treatment
HMRC have released guidance on changes to their policy for businesses who supply goods by way of hire purchase agreements. Brief 8 (2020) explains HMRC’s
Claim Tax Relief for Your Job Expenses: Working from Home
Q. Myself and My Husband are Both Employed by the Same Company, We Work from Home, but Our Employer didn’t Pay us the £6 Per