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Taxable and non-taxable State Benefits

Taxable and non-taxable State Benefits

Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free.

HMRC’s guidance provides the following list of the most common

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The NIC Employment Allowance

The NIC Employment Allowance

The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if this covers their

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Gains on sale of shares

Gains on sale of shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are in a CGT free investment such as an ISA or qualifying pension.

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Ordering documents from Companies House

Ordering documents from Companies House

Companies House offers interested parties the ability to order certified copies of certificates and documents held on the Companies House register.

You can order:

a company certificate with

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Child benefit for 16 to 19 year olds

Child benefit for 16 to 19 year olds

The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is £16.95.

Taxpayers entitled to the child benefit should be aware that

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The new Chancellor’s first speech

The new Chancellor’s first speech

The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country​ better off.

In her first speech as Chancellor, Rachel

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Labour win landslide election result

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 years in opposition. Labour have swept into power with their second-largest majority whilst the

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Restarting a dormant company

Restarting a dormant company

HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.

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Company filing obligations

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.

After the end of its financial year, a private limited

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Are mega sized marshmallows zero-rated?

Are mega sized marshmallows zero-rated?

In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many of the foods are zero rated as a result of historical legislation dating back to the

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Business VAT responsibilities

Business VAT responsibilities

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT

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Inheritance and tax

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s

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Exit plans

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests.

But actually, business exit planning is an essential part of general business planning. In some respects, it

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New government

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our new government requires to finance its activities.

The government has

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