Corporate tax news

Inheritance tax planning guide

What is inheritance tax? The government imposes inheritance tax on the estate of a deceased person before distributing the assets to their heirs. It calculates this tax based on the value of the person's estate (the assets they own individually) above a certain...

Abolition of Furnished Holiday Let Regime

If you own furnished holiday home, you may need to take action before 5 April 2025 due a recent Budget announcement.   Capital gains tax on residential property In the Spring Budget, it was announced that the top capital gains tax rate on the sale of residential...

Avoid the £10 Daily Penalty for Self-Assessment

£10 daily penalty for Self-Assessment starts on 1st May Starting from 1st May 2024, individuals who have yet to submit their overdue Self-Assessment tax return for the 2022-23 tax year will incur additional late filing penalties of £10 per day (capped at a total of...