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With the second payment on account due at the end of July, this is a useful reminder to firstly file your 2022/23 tax return(!) whilst also considering if you are able to reduce the 2024 payments on account. Payment timeline 31/01/2023 First payment towards the...
With exam season well underway, those wondering whether they can afford to go to university no doubt would advise parents to start saving early. With accommodation at a premium, the cost of living crisis not abating and tuition fees at their highest level yet; this...
In 1998 Indexation Allowance was paused for individuals, then in 2008 this valuable allowance was removed entirely, inflating capital gains overnight as a consequence. Fast forward to 2017, Indexation Allowance was paused in the December for companies. If the...
Employment, Education, Enterprise and Everywhere was the continued theme of today's Budget announcements. The Chancellor would like to get as many of us back into work, helping to meet his growth ambitions for the UK. The Pension Annual Allowance will increase from...
With local authorities set to inflate council tax for second homes, now may be the time to consider your property’s future. Occupy it! Now may be the right time for you to move in! Remember Private Residence Relief (PRR) applies from the date of occupation unless a...
With the 5th April fast approaching, tax year-end pension contributions are a popular savings and tax mitigation tool. Here’s a reminder of the key considerations: Personal pension contributions up to £3,600 (gross) can be made if an individual does not have relevant...
When a loved one passes away, the focus for personal representatives is invariably Inheritance Tax. Income and Capital Gains Tax should not be far behind in your priorities, however. Initially the personal representatives should focus on the income receivable and...
With the temporary Super-Deduction set to end on 31st March 2023, it is worth making sure your company is entitled to claim it before doing so. Points to note: Only companies can claim the Super-Deduction. Contracts entered into prior to 3rd March 2021 are not...
With the Governor of the Bank of England’s comments this month regarding interest rates and inflationary pressures over the next 18 months to 2 years, the Autumn Statement did not provide relief for the majority of UK taxpayers. Key Announcements Individuals The...