by admin | Nov 17, 2022 | Uncategorized
A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that the business is required to make an apportionment between the activities using a 'partial exemption method' in order to calculate...
by admin | Nov 17, 2022 | Uncategorized
Under current rules, you can claim tax relief for your private pension contributions within certain limitations. The current annual allowance for tax relief on pension contributions is £40,000. You can also carry forward any unused amount of your...
by admin | Nov 17, 2022 | Uncategorized
It is possible for wealthier taxpayers to make tax exempt gifts and payments that are funded as normal expenditure out of income. This is a very flexible exemption from IHT as there are no specific requirements, for example by making fixed regular...
by admin | Nov 17, 2022 | Uncategorized
The new Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons against a backdrop of a worsening cost of living crisis and with confirmation from the Office for Budget Responsibility OBR that the UK has now entered into a...
by admin | Nov 10, 2022 | Uncategorized
Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same accounting period. It is also...
