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CGT during divorce or separation

CGT during divorce or separation

If you are part of a couple that is about to separate or divorce, apart from the emotional stress, there are also tax issues that can have significant implications. Whilst this is unlikely to be

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Notifying cessation of self-employment

Notifying cessation of self-employment

Any taxpayers that have ceased to be self-employed must notify HMRC of their change in status. There are a number of steps that must be followed if a taxpayer ceases trading as a sole trader or if

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New deal for private renters

New deal for private renters

The government has announced their intention to fundamentally reform the private rented sector marking the biggest shake up of the private rented sector in 30 years. These measures are set to include

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Reform of Consumer Credit Act

Reform of Consumer Credit Act

The government has announced new plans to modernise consumer credit laws to cut costs for businesses and simplify rules for consumers. This will see major reforms to the Consumer Credit Act that

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Class 1A payment deadline

Class 1A payment deadline

Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees such as a company car. There is no employee contribution payable. If you provided taxable benefits to

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Check employment status for tax

Check employment status for tax

The Check Employment Status for Tax (CEST) tool can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public sector.

The

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Submitting CIS nil monthly returns

Submitting CIS nil monthly returns

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as

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Tax Diary July/August 2022

Tax Diary July/August 2022

1 July 2022 – Due date for corporation tax due for the year ended 30 September 2021.

6 July 2022 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A

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What is tax avoidance?

What is tax avoidance?

There is a distinction to be drawn between tax avoidance and tax evasion. Tax evasion is illegal and describes a situation where someone acts to deliberately evade tax. This could include deliberately

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Right to Buy home scheme extended

Right to Buy home scheme extended

The Right to Buy scheme has been available in various guises since it was first launched in the 1980s and following a relaunch in 2012. In essence the scheme gives qualifying social tenants the

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New grant opportunities for farmers

New grant opportunities for farmers

New grant opportunities to help farmers have been announced. The new grants will help farmers boost their businesses and add extra value to their produce. The Adding Value grant opened for

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Business Start Up Loans

Business Start Up Loans

Financing a new Start Up business is one of the most crucial aspects of helping a new venture to succeed. Obtaining finance for a new business can be an arduous process. For example, borrowing money

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Changes in State Pension age

Changes in State Pension age

The State Pension age is currently 66 and two further increases are set out in legislation: a gradual rise to 67 for those born on or after April 1960; and a gradual rise to 68 between 2044 and 2046

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Tax and duties on goods sent from abroad

Tax and duties on goods sent from abroad

There are special rules to ensure that goods sent from abroad are taxed appropriately and thus not disadvantage UK businesses supplying goods in the UK, for example, by having to compete with VAT free

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UKs audit regime to be revamped

UKs audit regime to be revamped

The government has announced plans to revamp the UK’s corporate reporting and audit regime.

The main changes were summarised as follows in a joint press release published by the Department for

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