The evenings are brighter and the temperatures are (hopefully!) warming, which means we’re drawing closer to Spring but also to the end of another financial year! As the 5th April approaches, there are opportunities to reduce your Personal Tax bill that will expire on the 6th April. NOW is the time to give them some […]
Read MoreCapital Gains Tax
HMRC raises late payment interest rate to 2.75%
Following the recent increase in the base rate announced by the Bank of England, HMRC has confirmed changes to payment interest rates. The current late payment interest rate applied to the main taxes and duties has increased to 2.75%, from 2.60%, from the 4th January 2022. This is the first increase since March 2020 when […]
Read MoreBudget 2021 – Reaction & More detail
The Budget is one of those times when we really don’t know what we’re going to get. As Accountants, it’d be great to have an inside line to Rishi’s office, so we had advance warning, but instead we’re reading the small print to get to the detail today. In advance of yesterday’s speech, there were […]
Read MoreCapital Gains Tax reforms proposed…
Changes were made to the Capital Gains Tax regime recently, that were described as ‘seismic’. The Office for Tax Simplification (OTS) has now called for an overhaul of the Capital Gains Tax (CGT) rules, for a range of reasons. A recent report by the OTS notes their concern that many people who pay CGT do […]
Read MoreChancellor asks the OTS to Review Capital Gains Tax
Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT). In a letter to the OTS, the Chancellor requested that the independent office review CGT and aspects of the taxation of chargeable gains in regard to individuals and small businesses. Mr Sunak requested […]
Read MoreWhat are the new Capital Gains Tax Rules?
The capital gains tax rules are changing in April 2020, with the changes being described as ‘seismic’. In this episode we take you through those changes, the impact they may have on you, and why you’ll need to be really careful not to get caught out! Timing will be very important. (Transcript below.) Transcript: Hi, […]
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