Monthly Archives: October 2017

Self-employed tax payments

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 return yet, or at the very least crunched the numbers to work out if...

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What are tax-free transfers for Inheritance Tax purposes

There are many reliefs for IHT purposes. They include:

  1. Business Property Relief – 100% relief for business assets including an interest in a business, a controlling interest comprising unquoted shares including AIM listed shares, and unlisted shares in a private company.
  2. Agricultural Property Relief – 100% relief (occasionally 50%)
  3. A controlling interest in a listed company – 50%...
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Tax legislation

Readers may be forgiven for finding the recent rash of announcements by HMRC, regarding possible changes to tax legislation, rather confusing.

On 8th September, we were informed that the remaining sections of the March 2017 finance bill, that were deferred due to the May election, were back in circulation and being dealt with by the appropriate...

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Self-employed and using your own car

There are two options if you use a car in your self-employed business for business and private purposes.

You can buy the car through your business, claim a capital allowance, and write off the costs of running the car as a business expense, and in both instances, you will need to adjust your claims to eliminate...

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