When an individual surrenders part of a life policy, a chargeable gain is triggered equal to the surrender proceeds less 5% of the premium for each year that the policy has been held. This method...
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Marriage allowance: Claims and back-dated claims
The days before the end of the tax year are a good time for advisers to ensure that their clients have claimed all tax reliefs and allowances to which they are entitled, before another year falls...
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One Month in a Minute: February 2019
Spring Statement – 13 March The Chancellor has announced that the Spring Statement will be on Wednesday 13 March.
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IR35 Tax Reforms - the latest updates for 2019
The Intermediaries Legislation (IR35) which was first introduced in the early 2000’s, has the purpose to retract tax advantages for individuals who present themselves as a limited business. The...
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Cross-party opposition to extending time limits in ‘offshore matters’
It is not often that amendments to the annual Finance Bill make headline news, and rarer still that they are forced on the Government by cross-party groups of MPs. In the past week, the Bill was...
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There’s No Time Like the Present To Get Prepared for Making Tax Digital (MTD)
Making Tax Digital (MTD) will become effective from 1 April 2019. It’s a government initiative that requires businesses with an annual turnover above the VAT threshold (£85k) to submit their...
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The Finance Bill: here we go again!
Mark McLaughlin highlights some important provisions in the latest Finance Bill and notes some other measures still to come.
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Courts and Tribunals: September 2018
Class 1A NIC: repaid private fuel constituted a benefit for company fuel card holders Extended periods of time allowed for a company’s fuel card holders to provide details to the company of their...
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The Busy Practitioner: Pay up …sooner!
The government has made no secret of its approach that ‘sooner is better’ when it comes to tax receipts into the Exchequer. In particular, legislation is to be introduced (in Finance Act 2019)...
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One Month in a Minute: September 2018
PERSONAL TAXATION ATT update on SA filing exclusions and ‘specials’ The Association of Taxation Technicians (ATT) has published an article, to follow up on a ‘Talking Points’ webinar from HMRC in...
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