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Do You Work From Home?
Do you work from home? Are you aware that you can claim a variety of costs from HMRC? Most people working from home have claimed the £4 per week allowance based on HMRC guidance, but this has now been updated.
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Will Inheritance Tax Make The Elderly Move Abroad?
Could UK Inheritance Tax Make The Elderly Move Abroad? We recently informed you about changes to Inheritance Tax rules. We have now uncovered fears that elderly people could be driven overseas by a Government clampdown on the use of trusts to prevent their assets being swallowed up by inheritance tax.
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How To Double Your Inheritance Tax Relief
If you leave your business to your spouse in your will to keep it in the family, this is IHT free, but there is a way to double this relief. If you own all or part of a business you can transfer this to anyone in your will while you are alive as long as…
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Can You Disincorporate Your Business Tax Free?
The new disincorporation tax relief removes the corporation tax problem when you transfer your business to a partnership or sole trader, but there are severe income tax implications. Making this change could trigger a corporation tax bill. The Office of Tax Simplification decided this was unfair to business owners and introduced the disincorporation tax relief…
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Are You A Tax Abuser?
The tax General Anti-Abuse Rule, known as GAAR, is now law. There are rumours that this may be used to stop income shifting between spouses despite HMRC losing a case between husband and wife owners of a company ten years ago. You could attract the attention of HMRC if you pay your spouse a salary,…