April Tax Newsletter
| Welcome to the Hartley Fowler LLP Tax Tips and News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman. If you need further assistance just let us know or send us a question for our Question and Answer Section. We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. Please contact us for advice on your own specific circumstances. We’re here to help! |
| Latest news round-up Penalty reprieve ends and interest rate hike. Any taxpayer that was relying on the relaxation of the late payment penalty rules must have either paid their tax bill or agreed a time to pay arrangement before 1 April. Unless there is a reasonable excuse, a Read More… |
| Transitional rules for Capital Allowances The annual investment allowance (AIA) has been at a temporary increased amount of £1 million since January 2019. This was supposed to revert to £200,000 after 31 December 2021 but has been extended for various reasons until 31 March 2023. As we are Read More… |
| Election to be treated as UK-domiciled for IHT purposes Inheritance tax is possibly the least popular of the main taxes. However, in most cases, no IHT is payable on transfers made to a spouse or civil partner – regardless of whether this takes place during the lifetime of the person making the gift, or via th Read More… |
| Is the QCB deferral worthwhile? When a company is sold, it is often partly for consideration which is deferred in one way or another. Sometimes this will take the form of a debt, such as loan notes. Effectively, the vendor is lending the purchaser the balance of the consideration. If ce Read More… |
| April Questions and Answers Our long-term landlord has offered us the opportunity to purchase the freehold in the office building we work from, which we are keen to do. However, they have opted to tax the building. I’m aware we could recover the input tax but it will still have a sh Read More… |
| April Key tax dates Due date for payment of Corporation Tax for accounting periods ending 30 June 2021 Read More… |
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