Tax Allowances You Should Know About
Wednesday 27th March 2024 TAX-FREE PERSONAL ALLOWANCE The standard Personal Allowance is £12,570, which is the amount of income you do...
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lily56904
- Feb 21
- 2 min
Navigating the World of Capital Gains Tax in the UK: Unveiling Key Insights
Wednesday 21st February 2024 Understanding Capital Gains Tax (CGT) is paramount for anyone navigating the financial landscape in the UK....
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Pro Tax Plus Accountants
- Feb 15, 2022
- 1 min
The new Self-assessment deadline for 20/21 is February 28th
You still have time to file your self-assessment tax return 20/21. The new deadline is February 28th! HMRC has extended the deadline for...
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Pro Tax Plus Accountants
- Jan 1, 2021
- 5 min
Minimising property profits in the pandemic
The article considers the scope for buy-to-let landlords to reduce their taxable profits in the current general financial difficulties....
28 views0 comments
Pro Tax Plus Accountants
- Dec 28, 2020
- 2 min
Christmas gifting without the IHT sting
Ho ho ho…Christmas gifting, this article explains which gifts should be free from inheritance tax consequences this Christmas....
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Give away £3,000 IHT-free each year.
There are various exemptions for inheritance tax purposes which enable a person to make tax-free gifts. One of the more useful is the...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Savings income – how is it taxed?
The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people are...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 3 min
Inheritance tax – making tax-free gifts
There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Cash basis for landlords – when does it apply?
The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 3 min
Residence nil rate band
Residence NIL Rate Band and downsizing The residence nil rate band (RNRB) is an additional nil rate band, which is available where a...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Private lettings relief
Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Rewarding staff suggestions in a tax-free manner
Many organisations operate a staff suggestion scheme and reward employees where a suggestion is adopted which will benefit the...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
A quick overview of capital gains tax
Capital gains tax is payable on net gains to the extent that they exceed the annual exempt amount. Capital gains tax is a tax on the...
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Pro Tax Plus Accountants
- Dec 25, 2019
- 2 min
Making money from your spare room
Under the rent-a-room scheme, it is possible to earn tax-free income from letting out a furnished room in your own home to a lodger. You...
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