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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...

R&D cap announced

R&D cap announced

The government has announced a cap on the amount of payable tax credit that a company can claim for Research and Development (R&D). The cap will be £20,000 per period plus 300% of the PAYE and NIC payable for the period. This will take effect for periods starting...