Optician news

Proposal to extend Capital Gains Tax deadline for divorces

Proposal to extend Capital Gains Tax deadline for divorces

A report published by the Office of Tax Simplification (OTS) has recommended extending the deadline by which divorcing couples are able to claim spousal exemption on Capital Gains Tax when dividing their assets. Married couples or civil partners can transfer assets...

Proposal to extend Capital Gains Tax deadline

Proposal to extend Capital Gains Tax deadline

The Office of Tax Simplification (OTS) has recommended that the government double the Capital Gains Tax (CGT) reporting and payment deadline for disposals of UK residential property to 60 days. Rules introduced in April 2020 mean that a UK resident disposing of UK...

Making Tax Digital (MTD) for Landlords

Making Tax Digital (MTD) for Landlords

New tax obligations from April 2023 From 6 April 2023, significant changes will be made to the Self-Assessment reporting system for landlords with gross rental income above £10,000 per tax year.  Bringing landlords within the scope of MTD is part of HMRC’s plan to...

Women in Later Life Divorce

Women in Later Life Divorce

Women face the larger financial burden Divorce can be a very difficult time emotionally and financially for those involved. It can be especially difficult in later life due to the fact that married couples will have built up financial assets together. These joint...

Tax Rates and Allowances 2021/22

Tax Rates and Allowances 2021/22

Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...