by Admin | Feb 3, 2022 | Income Tax
Where a property business makes a loss, the loss can usually be carried forward and set against future rental business profits. HMRC’s guidance is clear that any losses made in one rental business cannot be carried across to any other rental business the...
by Admin | Feb 3, 2022 | Inheritance Tax
Inheritance Tax (IHT) is a tax that is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death and 20% on lifetime gifts. There is a...
by Admin | Feb 3, 2022 | Employment & Payroll
There are a multitude of rules and regulations that you must be aware of when you start employing staff for the first time. HMRC’s guidance sets out important issues to be aware of when becoming an employer. Decide how much to pay someone – you must pay...
by Admin | Feb 3, 2022 | Income Tax
Newly self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. However, HMRC must be officially notified by 5 October following the end of the tax year so that a Self-Assessment return can be issued on time and to avoid...
by Admin | Feb 3, 2022 | Value Added Tax
There are special rules, under which a VAT-registered business can sell certain goods and services to charities at the zero or reduced rate of VAT. Before charging VAT at a lower rate, you must be able to show evidence that the charity is eligible. This is usually...
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