Pass on your house free of IHT

December 04, 2018 | by Sian Kelly | No comments

The introduction of the residence nil rate band (RNRB) opens up the possibility of leaving the family home to successive generations without triggering an inheritance tax charge. It is available for deaths on or after 6 April 2017.

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Setting up a new business?  Claim a deduction for pre-trading expenses

November 27, 2018 | by Sian Kelly | No comments

As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for the deduction to be available, the business must have started trading.

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Is the Christmas party tax-free?

November 19, 2018 | by Sian Kelly | No comments

Although the tax legislation contains an exemption to prevent employees from suffering a benefit-in-kind tax charge on the staff Christmas party, the exemption is limited in scope and application. It is unwise to assume that there will be no tax to pay – without proper planning, an unwanted tax charge may accompany the post-party hangover.

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Autumn budget gives 2.4 million workers a payrise

November 06, 2018 | by Sian Kelly | No comments

In his Autumn Statement the Chancellor, Philip Hammond, has announced the new increased rates of National Living Wage and National Minimum Wage. The increases will affect 2.4 million workers.

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Chancellor's Autumn Budget Announcements 2018

November 01, 2018 | by Sian Kelly | No comments

Keeping you up-to-date on the Chancellor’s Autumn Budget announcements.

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Cash basis for landlords- when does it apply?

October 23, 2018 | by Sian Kelly | No comments

The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid.

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