Our previous Stamp Duty Land Tax (SDLT) article of 12 June 2020 discussed an extension to the exceptional circumstances rule, where a sale of a previous home had taken longer than 3 years to complete. This would normally restrict the ability to claim a refund of the...
The selling or gifting of residential property will be a Capital Gains Tax (CGT) event, whereby the gain will normally be calculated by reducing the market value/selling price for the cost of acquisition and for other allowable expenditure. The main relief from CGT...
5th of April will mark the end of the current 2021/22 tax year and it is therefore important, at the current time, to review an individual’s business and taxation affairs while there is still an opportunity to do so. Outside of taxation considerations, we would...
Powers have been given to HMRC so that it can maximise revenue and clamp down on tax evasion and avoidance. What is the difference between evasion and avoidance? Evasion is illegal Avoidance is not advisable but not illegal Tax planning is allowable The blurring of...
As the end of the 2021/22 tax year is approaching, there are a number of different things that you could consider. These need to be actioned before 6 April 2022:- Marriage Allowance Where the lowest earning spouse earns less than the personal allowance (£12,570 for...