Tax Return Adviser Ltd
Monthly Focus
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MONTHLY FOCUS: SECONDARY INCOMES
In 2023 it was revealed that HMRC would enjoy new data-sharing information from online selling platforms from 1 January 2024, including eBay, Etsy, etc. This led to media speculation that innocent people selling second-hand items would soon be hearing from a tax inspector. In this monthly focus, we look at the tax consequences of starting a small trade, or taking a second job.
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SPECIAL FOCUS: TAX UPDATE AND 2024 SPRING BUDGET
The 2024/25 tax year is just days away. In this special Monthly Focus we look at the changes that you need to be aware of for the forthcoming year, as well as highlighting the key measures announced at the 2024 Spring Budget.
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MONTHLY FOCUS: CAPITAL GAINS TAX SAVINGS WITH SHARES
Capital gains tax, or CGT for short, applies to gains made on the disposal of chargeable assets. There are a number of tax reliefs available that you can take advantage of when planning your investments. In this Monthly Focus, we look at some of those that apply to shares.
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MONTHLY FOCUS: PROFIT EXTRACTION FOR 2023/24
With the January filing season out of the way, thoughts will soon turn to year-end planning, particularly for close company owner managers. In this Monthly Focus, we look at the position for 2023/24, incorporating changes made - including the NI cut from 6 January 2024.
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MONTHLY FOCUS: IHT PLANNING WITH BUSINESS PROPERTY RELIEF
Ahead of the next General Election, there are rumours that inheritance tax (IHT) may be cut. It is unlikely to be abolished altogether, so it will still be important to take steps to mitigate your exposure as much as possible. How can business property relief be used in IHT planning?
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SPECIAL FOCUS: AUTUMN STATEMENT 2023
The Chancellor delivered his Autumns Statement on 22 November 2023. National Insurance took the headlines, but there were other changes to note once the tax documents were published. In this Special Focus, we look at the key announcements and consider their practical impact.