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Estates and the nil rate dividend band and gross interest
Two changes, effective from 6 April 2016 will result in more estates having to settle tax liabilities arising during the period of administration. Prior to 6 April 2016 most...
Secondary annuities market
Plans that would have enabled individuals to sell their annuities for a lump sum have been abandoned due to concerns that there would be too few purchasers in the market to...
Cash Coding on Xero
Do you have lots of transactions that all relate to the same thing? Use cash coding to reconcile multiple transactions rather than creating a payment for each one...
Invest with HMRC?!
Following the reduction in base rate in August from 0.5% to 0.25%, HMRC have amended the interest rate due on late paid tax. HMRC have reduced all interest charge rates from...
Lifetime allowance (pensions)
Pension scheme members can now apply to protect their pension savings from the lifetime allowance tax charge using HMRC’s website. The online service replaces the interim...
Entrepreneur’s relief and resignation
If you are going to resign make sure it is after you have disposed of your shares and not before. You need to be a director or employee in the twelve months before.
Stamp duty and mortgages
Generally on a transfer with no consideration there can be no stamp duty charge. But there is an exception if a mortgage is wholly or partly transferred. If one party assumes...
Clarification regarding the employment allowance (for NIC)
To qualify for the employment allowance small employers must have at least one other employee, other than the director, who is paid at a rate of at least the secondary...
Deposits and liquidation – caveat emptor when it comes to VAT
If a deposit is paid and a VAT point created, if the goods are never supplied because for example the supplier goes into liquidation, the VAT cannot be recovered as there has...