Feb 3, 2020 | Personal Tax
The current 40% inheritance tax rate is "unfair" and should be reduced to 10% in the Spring Budget, a cross-party group of MPs has claimed. Inheritance tax usually kicks in when the value of an estate exceeds the tax-free threshold of £325,000. Each year, an...
Jan 27, 2020 | Personal Tax
Around three million taxpayers have until midnight on Friday to submit tax returns for 2018/19, according to HMRC. The Revenue said that more than 8.5m taxpayers have submitted returns through self-assessment one week before the 31 January deadline. A record-high of...
Jan 24, 2020 | Personal Tax
Owners of second homes or buy-to-let properties are being warned to brace themselves for a "seismic shift" in how capital gains tax is paid. New rules are set to kick in for people who exceed the capital gains tax-free threshold by selling residential properties from...
Jan 20, 2020 | Personal Tax
Proposed changes to letting relief should be transitionally phased in to prevent landlords from paying significantly higher capital gains tax bills, a tax group has said. Until the end of 2019/20, landlords can claim letting relief of up to £40,000 if they have lived...
Jan 17, 2020 | Personal Tax
Five software packages that are compatible with Making Tax Digital (MTD) for income tax have been signed off by HMRC. Products include one for individuals to submit digital records for income relating to self-employment and property. MTD for VAT came into force on 1...
