Tag Archives: money

  1. HMRC and Late Filing Penalties – No New News!

    Have you seen the recent news coverage about HMRC cancelling their usually strict £100 penalty if you are late with your tax returns? We need to tell you that this is not new news!

  2. Tax Credits Changes and the Risk of Overpayment

    Tax credits are state benefits that provide extra money to people responsible for children, disabled workers and other workers on lower incomes. There are two types of tax credits – child tax credits and working tax credits.

  3. Taxation – The Intentions of the Main Political Parties

    Following our promise to keep you as up-to-date as possible with all things financial, we have obtained an at-a-glance guide to the intentions of the main political parties regarding taxation.

  4. New Marriage Allowance Tax Break

    From 6th April this year the new Marriage Allowance is a tax break available for more than 4 million married couples and 15,000 civil partnerships.

  5. 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.

  6. Income Tax Relief on the Seed Enterprise Investment Scheme

    New businesses often struggle to find investors at the time when they really need funds. The Seed Enterprise Investment Scheme (SEIS) is designed to help small businesses raise equity finance through tax reliefs to investors who purchase shares in the company. It is very appealing to investors due to this generous tax relief.

  7. New Rules About Wills and Inheritance Tax

    There has recently been an announcement about new rules surrounding wills and inheritance tax (IHT). The rules make the legal situation more clear and precise, so it’s a good idea to ensure you have a will, chose your executors wisely, and let your close family members know you have a will.

  8. Self-Employed and Need a Mortgage?

    Obtaining a mortgage used to be reasonably straight forward but recent changes mean lenders want to see strong proof of income plus the ability to keep-up mortgage payments if interest rates rise.

  9. 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.

  10. Do you want HMRC to raid your bank account?

    Continuing our mission to keep you updated with the latest from HM Revenue and Customs, we’ve discovered that they will be given powers to access bank accounts, but, thank goodness, not to empty them. It’s been in the news again recently and many businesses are seriously concerned. New powers allowing HMRC to raid bank accounts…

  11. 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…

  12. When Is A Structure Not A Building?

    The cost of providing a shelter for employees who smoke can be high – but can you claim a tax deduction for this? It all depends on whether this structure is a building or a piece of fixed equipment. Accountants sometimes struggle with this! If it has four walls and a roof then it’s a…