Flipping – how to choose your main residence to maximise relief

July 04, 2018 | by Sian Kelly | No comments

 

Private residence relief (also known as main residence relief) takes the gain arising on the disposal of a person’s main or only residence out of the charge to capital gains tax. This relief means that in the majority of cases, any gain arising when a person sells their home is tax-free.

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Company car tax - why it might pay to go electric

July 03, 2018 | by Sian Kelly | No comments

 

For owners of small businesses, taking out a company car can prove false economy - often creating more personal tax liability than it saves on the companys corporation tax bill.

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Tax-free childcare available on school holiday clubs

June 27, 2018 | by Sian Kelly | No comments

With the school summer holidays rapidly approaching, HM Revenue & Customs “(HMRC”) have issued a timely reminder to parents that they are can  use the tax-free childcare scheme to pay for holiday clubs.

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Free fuel- is it worthwhile?

June 13, 2018 | by Sian Kelly | No comments

Where an employer meets the cost of fuel for private journeys in a company car, an additional benefit in kind charge arises in respect of the provision of the `free’ fuel (unless the employee makes good all the cost).

 

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Making Tax Digital for VAT- what records must be kept digitally

June 13, 2018 | by Sian Kelly | No comments

Making Tax Digital (MTD) for VAT starts from 1 April 2019. VAT-registered businesses whose turnover is above the VAT registration threshold of £85,000 will be required to comply with MTD for VAT from the start of their first VAT accounting period to begin on or after 1 April 2019.

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Paying voluntary Class 3 National Insurance Contributions

June 13, 2018 | by Sian Kelly | No comments

 

Voluntary National Insurance contributions can be paid to plug gaps in your contributions record.

To receive the full single-tier pension (which is payable to individuals who reach state pension age on or after 6 April 2016), an individual needs 35 qualifying years.

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