Personal Tax

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What is entrepreneurs' relief?
If you sell all or part of your business, you may be able to claim relief on the capital gains tax liable on the proceeds, providing an effective 10% CGT rate on qualifying amounts up to a lifetime 'allowance' of £5m. [July 15, 2010]

Capital Gains Tax changes following the Emergency Budget
Following the recent 'Emergency Budget', a leading small business accountancy firm have provided a helpful summary of the Capital Gains Tax changes which were announced. [July 12, 2010]

How are limited company dividends taxed?
If you are a limited company shareholder, you may have to pay personal tax on any dividend income you receive. This article outlines how company dividends are taxed. [March 30, 2010]

How the new higher 50% income tax rate will apply, and can you mitigate against the hike?
With the introduction of the new 50% income tax rate, we look at how the new rules will apply, and what efforts tax advisors have made to avert their clients from the full impact of the hike. [February 18, 2010]

What is your "Principal Private Residence" for CGT purposes?
If you own property and are resident in the UK for tax purposes when you sell the property there could be a liability in the form of capital gains tax or income/corporation tax if you are a property developer. [February 8, 2010]

Useful year end tax planning tips to consider before April 2010
Individuals and small business owners may benefit from tax planning before the end of the current tax year on 5th April 2010. Here are some useful action points. [January 13, 2010]

Self assessment paper deadline looms, file online by 31st January
The Self Assessment paper deadline is coming up - if you’re going to file your Tax Return on paper you need to do so by 31st October. File online and gain three extra months. [October 22, 2009]

Self assessment - who needs to fill in a tax return form?
If you receive income which is not taxed at source, or have complex tax affairs, you do need to complete a tax return. [April 20, 2009]

Personal tax planning tips for the 2008/9 tax year end
With the end of the 2008/9 tax year fast approaching, leading business advisors Deloitte, provide some advice on how to claim the maximum personal tax relief available. [March 26, 2009]

Tax planning guide for the 2008/9 tax year
This comprehensive guide to 2008/9 year-end tax planning covers dividends, income shifting, personal income, directors loan accounts, pensions, investments, EIS schemes, venture capital trusts, CGT, IR35, capital assets, inheritance tax, charity donations, gifts, and property. [February 17, 2009]

What if you can't pay your tax liabilities by 31st January?
As the downturn continues to cause cashflow problems for many businesses and individuals in the UK, a leading accountancy firm warns people who can't meet their tax return liabilities by month-end to take action now. [January 26, 2009]

Some useful tips to help complete your tax return
Now that the festive season is out of the way, you can no longer put off completing your tax return. Here are some useful self assessment tips from a leading accountancy firm. [January 5, 2009]

Tax considerations of letting out your home
Many small business people may at some time consider letting part or all of their homes - this article sets out a number of the tax considerations you will need to consider. [November 10, 2008]

Filing tips as self assessment paper return deadline nears
With the deadline for paper self assessment returns only days away (31st October), the ICAEW Tax Faculty has provided some useful tips for getting it right. Those submitting online have until 31st January 2009 to complete their returns. [October 23, 2008]

HMRC to take it easy on late filers of paper SA returns this year
Instead of issuing automatic late filing penalties, HMRC are to allow taxpayers to submit a "reasonable excuse" for submitting their paper tax returns on time this year. [October 13, 2008]

Top 10 self assessment tax return tips
With a new-look self assessment tax return on the cards this year, Pricewaterhousecoopers has produced a helpful ten-step guide to help business owners get their returns right. [October 1, 2008]

No more prepaid envelopes as HMRC encourages online filing
HMRC is continuing its campaign to encourage taxpayers to file online by phasing out the pre-paid envelopes normally supplied with self assessment forms. [September 25, 2008]

Self Assessment - Prepare your paperwork in advance
Whether you're filing your self assessment return online, or if you're sticking with the paper return, you can save yourself a lot of hassle by getting prepared in advance. [September 15, 2008]

New 31st October deadline for paper self assessment returns
HMRC have set an earlier deadline to taxpayers who submit a paper self assessment form this year. If you submit online, the usual 31st January deadline still applies. [August 21, 2008]

Don't be startled by HMRC's self assessment online glitch
The ICAEW has warned taxpayers paying their second payment on account for the 2006/7 tax year not to be startled when checking the amount they owe on the HMRC website, following a technical glitch. [July 21, 2008]

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