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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As our regular readers will be aware, the government has back-tracked on their original proposal to digitise taxpayers’ affairs. The original Making Tax Digital (MTD) plan to have most self-employed traders and landlords uploading accounts and VAT data from April 2018 was scrapped. The new plan – delayed until April 2019 – requires traders registered for […]

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The European Commission has warned that some 130,000 companies could be affected by the UK leaving the EU’s value added tax area. The commission issued a notice earlier this month advising that with no agreement on tariffs, the UK will be treated as any other non-EU trading nation post Brexit. What does this mean? UK […]

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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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Recent budgets and tax changes have done little to improve the financial position of landlords. One change stands out above the rest: the loss of higher rate tax relief on finance charges. Many landlords have concentrated on growing their property portfolios in recent years and, taking advantage of the low interest rates, have borrowed heavily […]

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