As a general rule, if you are resident in the UK, you are liable to pay Capital Gains Tax (CGT) when you sell (or dispose of) an overseas property at a gain.
The annual exempt amount applicable to
Selling overseas property
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Marriage Allowance how it works
The marriage allowance is available to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income
Duty free limits if you are travelling abroad
If you are travelling from outside the UK and arriving home in Great Britain (England, Wales and Scotland), you are allowed to bring back the following goods for your own use without any UK tax or
Protecting intellectual property
Having the right type of intellectual property protection helps you stop people stealing or copying:
the names of your products or brands;
your inventions;
the design or look of your products;
Offshore taxpayers offered chance to come clean
HMRC is currently writing to UK residents who were named in the leaked Pandora Papers and offering them the chance to regularise their tax affairs. The letters are being sent to UK residents named in
Deadline to top-up NIC contributions extended
In certain circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension.
Usually,
HMRC’s Self-Assessment line summer closure
HMRC’s Self-Assessment helpline closed on 12 June 2023 and will re-open on 4 September 2023. This closure is part of a trial to direct Self-Assessment queries from the helpline to HMRC’s digital
Regulated businesses hit with Anti-Money Laundering fines
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and
Capital Gains Tax Gift Hold-Over Relief
Gift Hold-Over Relief is a tax relief that results in a deferral of Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they
VAT Exempt services
A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes.
This means that the business is required to make an apportionment between the
New powers for charities
From 14 June 2023, the latest set of changes mandated by the Charities Acts 2022 came into force.
Changes now in place include simplified legal requirements that charities must comply with before
Effects of settlement legislation
The settlement legislation is intended to prevent an individual from gaining a tax advantage by diverting his or her income to another person who is liable at a lower rate of tax or is not liable to
Tax exempt private medical costs
There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’
New life sciences growth package announced
The Chancellor, Jeremy Hunt, has announced a new £650 million package of measures to help boost UK life sciences.
The new ‘Life Sci for Growth’ package brings together 10 different policies including
Passport delays and applications
A recent investigation by the House of Commons Committee of Public Accounts, in connection with the UK passport office, has found that hundreds of thousands of applicants faced unacceptable delays in
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