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Directors and National Minimum Wage

Directors and National Minimum Wage

Company directors or any other person who has been appointed to a position by a company or organisation but doesn’t have a contract or receive regular payment as office holders are neither employees

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What qualifies for First Year Allowances

What qualifies for First Year Allowances

Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow benefit of accelerated tax relief is designed to encourage

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Paying stamp duty on share transfers

Paying stamp duty on share transfers

Stamp Duty is paid on shares bought on a stock transfer form. A stock transfer form is the standard form used for transfers of shares from one person to another. If you use a stock transfer to buy

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IHT claiming business relief

IHT claiming business relief

There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT) if you inherit the estate of someone who had died.

One of these reliefs is known as IHT Business Relief and

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Half-term help with childcare costs

Half-term help with childcare costs

HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for October half-term holiday clubs and wraparound care during the school terms.

The TFC scheme can help

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New VAT Registration process for agents

New VAT Registration process for agents

A new VAT registration process known as the VAT Registration Service or VRS was made available to agents from 1 August 2022. The VRS had been in testing mode for the previous 18 months and was used by

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Private Residence Relief garden and grounds

Private Residence Relief garden and grounds

In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. This relief from CGT is commonly known as private residence relief.

However, there are

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IHT gifts with reservation of title

IHT gifts with reservation of title

The majority of gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. These gifts or

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SA taxpayers target for fraudsters

SA taxpayers target for fraudsters

Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for submission of Self-Assessment returns for the 2021-22 tax year. In fact, in the 12 months to August 2022,

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Donations through Gift Aid

Donations through Gift Aid

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take a taxpayer’s donation and, provided all the qualifying conditions are met,

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Second cost of living payment

Second cost of living payment

Back in May 2022, the then Chancellor Rishi Sunak announced a package of support measures targeted mainly to the most vulnerable members of society. One of the main measures was the Cost of Living

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VAT Flat Rate scheme

VAT Flat Rate scheme

Using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to

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Deadlines 2021-22 Self-Assessment tax return

Deadlines 2021-22 Self-Assessment tax return

The 2021-22 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2022. Late submission of a Self-Assessment return will become liable to a £100 late

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