If you are claiming tax credits make sure that you keep an eye on changes that may affect the amount you receive. Your payments can go up if: your income goes down by more than £2,500 your benefits stop or go down you start getting personal independence payment (PIP), disability living allowance (DLA) or other […]

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From 1 October 2018, HMRC will be gaining access to information from tax havens that will enable it to identify UK citizens with undisclosed offshore assets. By inference, this will also give them access to undisclosed UK income and taxable gains. Why does this matter? It matters because HMRC has introduced new legislation called the […]

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From 14 February 2018, tax-free childcare is available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare. According to government, it is quick and easy to apply, and parents could save thousands of pounds each year. For every £8 […]

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The Office for Tax Simplification (OTS) has been tasked by the Government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently, the review would appear to be wide ranging. Issues to be examined include: The process around submitting IHT returns and paying any tax, including […]

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Let us hope that 2018 presents opportunities to build our business interests and improve the financial position of our families. Certainly, there were many changes last year, not least the ongoing implications of the Brexit vote, that have proved to be challenging (and not only for the politicians). A reminder, as we look forward to […]

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Self-employed persons and other individuals who submit a self-assessment (SA) tax return should bear in mind that there are only three months until the electronic filing and payment deadline for 2016-17, 31 January 2018. If you have not filed the 2016-17 SA tax return yet, or at the very least crunched the numbers to work […]

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