06 - September 2019Do you have a second home? You might want to sell up before April 2020!
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Private residence relief and the final period exemption From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence. The main gains are where the property has been the only or main residence throughout the whole period of ownership as private […]
30 - August 2019Have you heard of a SIPP? They can be a useful tool for investments.
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Using a SIPP to save for retirement A SIPP is a self-invested personal pension which is set up by an insurance company or specialist SIPP provider. It is attractive to those who wish to manage their own investments. Contribution to a SIPP may be made by both the individual and, where appropriate, by the individual’s […]
28 - August 2019Closing a business can be a difficult time. Be tax efficient with this beneficial liquidation strategy.
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Closing a business – when a member’s voluntary liquidation is beneficial Although it is possible to strike off a company and for distributions made prior to dissolution to be treated as capital rather than as a dividend, this is not an option where the amount of the distributions exceeds £25,000. Where the taxpayer’s personal circumstances […]
26 - August 2019Today’s blog explains how Britain’s most hated tax – inheritance tax – works for married couples and civil partners.
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Inheritance tax and spouses and civil partners Special rules apply for inheritance tax purposes to married couples and civil partners. To ensure valuable tax reliefs are not lost, it is beneficial to consider the combined position, rather than dealing with each individual separately. Married couples and civil partners benefit from exemptions that are not available […]
24 - August 2019Here’s how to apply for tax-free childcare:
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Government childcare scheme – tax-free top-up Working parents can receive a tax-free top up from the Government to help with their childcare costs. The top up is worth £500 every three months (£2,000 a year). A higher top-up of £4,000 a year (£1,000 every three months) is available where the child is disabled. To receive […]