New figures show that a quarter of estates paying Inheritance Tax (IHT) are investigated by HMRC

The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for IHT are investigated each year. In 2018-19, more than 5,500 investigations were launched by HMRC into the

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Principal Private Residence Relief and Lettings Relief changes due in April 2020

The start of the next tax year in April 2020 will see key changes come into effect in respect of Principal Private Residence Relief (PPR) and Lettings Relief, both of which can be used to soften the impact of Capital

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Employment Allowance to be restricted from next year

At the moment businesses and charities of all sizes can benefit from Employment Allowance. However, from the start of the new tax year in April 2020, the allowance will only be available to employers with a secondary National Insurance Contributions

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Summer childcare costs cooldown with Tax-Free Childcare

The Government wants to remind working parents that they could be entitled to up £2,000 per child per year to help with the costs of childcare, including regulated holiday clubs during the school holidays. The six weeks summer holiday can

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HMRC outlines changes to Capital Gains Tax treatment on second homes

From April 2020, the date at which Capital Gains Tax (CGT) must be paid on a second home property disposal is changing. After this date, taxpayers will only have 30 days to file their return and make an advance payment

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Construction businesses only have weeks left to prepare for the VAT reverse charge

Businesses in the construction industry now have only a matter of weeks left to prepare for the new VAT domestic reverse charge regime. These new rules will be enforced from 1 October 2019, significantly changing the VAT affairs and tax

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Spring Statement 2019

On any other day, the Chancellor’s Spring Statement would have dominated the headlines. However, with the UK’s scheduled withdrawal from the EU just days away, and the Prime Minister’s latest Brexit deal voted down by the Commons just hours earlier,

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National Living Wage to rise next month

From 1 April 2019, employers will be required by law to pay their employees the following minimum wages: Year 25 and over (National Living Wage) 21 to 24 18 to 20 Under 18 Apprentice Current rate £7.83 £7.38 £5.90 £4.20

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Debt recovery costs small businesses an average of £9,000

The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for

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Brexit uncertainty sends small business confidence to a seven-year low

Confidence amongst small businesses has tumbled to a seven-year low – in part due to the uncertainty of Brexit. A survey carried out by the Federation of Small Businesses (FSB) has found that nearly one in three small exporters think

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