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13-02-2019
Gifts out of disposable income

Gifts out of disposable income

There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be carried forward to the following tax year if not used to make a maximum gift of £6,000. ... read more

13-02-2019
What work is covered by the CIS scheme?

What work is covered by the CIS scheme?

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction ... read more

13-02-2019
When do you pay Capital Gains Tax?

When do you pay Capital Gains Tax?

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. However, if you only pay basic rate tax and ... read more

13-02-2019
Class 4 NICs who is liable?

Class 4 NICs who is liable?

There are two types of National Insurance Contributions (NICs) payable by most self-employed people. These are known as Class 2 NICs and Class 4 NICs. Class 2 NICs are paid by all ... read more

13-02-2019
Reduction in special Writing Down Allowance

Reduction in special Writing Down Allowance

Businesses can claim Capital Allowances tax relief for certain types of capital expenditure. For expenditure on plant and machinery that exceeds the Annual Investment Allowance ... read more

13-02-2019
EIS Income Tax relief restriction for connected parties

EIS Income Tax relief restriction for connected parties

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new ... read more

13-02-2019
Tax codes for employees

Tax codes for employees

The P9X form is used to notify employers of the tax code to use for employees. The form shows the tax codes to use from 6 April 2019. The basic Personal Allowance for the tax year ... read more

06-02-2019
Alcohol duty freeze confirmed

Alcohol duty freeze confirmed

The Chancellor, Philip Hammond recently paid a visit to an independent brewery in Liverpool and confirmed that the duty rates on beers, spirits and most ciders will be frozen at ... read more

06-02-2019
Will you pay tax on your inheritance?

Will you pay tax on your inheritance?

If you inherit property, money or shares you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the ... read more

06-02-2019
Struggling to pay your January tax bill?

Struggling to pay your January tax bill?

Have you missed the 31 January 2019 deadline for paying your tax bill? The 31 January was not just the final date for submission of your Self Assessment tax return but also an ... read more