4 May 2019

Inheritance tax – making tax-free gifts

There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free gifts is a useful way to reduce the value of your estate – and ultimately the inheritance tax that may be payable on gifts.

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23 April 2019

Cash basis for landlords – when does it apply?

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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14 April 2019

Overpaid tax? How to claim it back

There are various reasons why you may have paid more tax than you needed to for a tax year. For example, if you only worked at the start of the year, you may not have received all of your personal allowance.

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21 March 2019

Beware tax scams

HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year.

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16 March 2019

Paying family members

Many small businesses, whether incorporated or not, pay family members for working for the business. However, as a recent case shows, it is easy to make mistakes which can prove costly.

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