Latest Private Client Tax

28th February 2019 The ‘Right to Build’

In 2016, new legislation came into force which meant that councils now have a duty to grant planning permission to appropriate serviced plots as part of the ‘Right to Build’ entitlement. This was part of the government’s solution to tackling housing shortages across the country – the objective was to double the value of the…

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18th January 2019 CryptoCurrency Taxation: HMRC close loophole?

HMRC are not known for being ahead of the curve, so trying to find official guidance on how exchange gains from selling bitcoin, and other crypto currencies, is expected to be self-assessed and taxed, was always going to be ‘problematic’. At the time of first researching this, the latest HMRC guidance was published in 3…

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11th January 2019 Financing your self-build project

  Borrowing to build Self-builders require more money up front than conventional homebuyers. This is because they have to buy their building plots and fund their planning applications before they can apply for any loans. Self-build mortgages tend to be interest-only as fixed-rate loans have substantial exit fees for those who change loans when the…

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11th December 2018 To file or not to file, that is the question!

In common with many people, our client was notified in January 2018 that he no longer needed to file a tax return.  As he receives income from multiple sources, i.e. a salary, various pensions and savings income, he wasn’t convinced that he had paid the right amount of tax for the year ended 5 April…

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16th November 2018 New Year, New….. Tax Return

  There are only 76 days until the self-assessment tax return deadline of 31 January 2019. If your return is not filed by this date an automatic £100 penalty will be applied. With the festive season on the horizon it’s easy to push the tax return deadline to the back of your mind, however don’t…

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8th November 2018 EIS: v2?

Observers of recent Budgets will have noticed that the Chancellor has made several references to “EIS Knowledge Intensive Funds”, as a new initiative to help finance growth in innovative firms. He has even invented a new phrase to describe this type of funding: ‘Patient Capital’. The initial March 2018 Consultation Paper has now closed for…

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8th November 2018 Entrepreneurs’ Relief changes

The government announced, as part of the Budget, that some changes are being made to the rules for Entrepreneurs’ Relief (ER) with immediate effect for disposals on or after 29 October 2018. Two new tests are to be added to the definition of a ‘personal company’, requiring the claimant to have a 5% interest in…

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15th October 2018 Preserve your wealth

Discover how to manage your wealth effectively at our annual event led by our wealth management and tax experts. There will be three presentations followed by a light lunch – a great networking opportunity. Tax planning tips & traps Barbara Nicholas, Tax Partner at Whiting & Partners  Passing on Wealth – How hard can it…

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26th September 2018 TechCos: Preserve ER with new tax election

Those companies that continually go through funding rounds, such as your typical techco start-up, should be aware that HMRC are introducing a new tax election wef 6-Apr-19: Proposed legislation contained within the Finance Bill 2018 This election will allow shareholders who hold at least 5% of the company on 6 April 2019, and who are…

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25th September 2018 Registering for self assessment

The deadline for registering for self assessment is 5 October for the 2017/18 tax year. Anyone submitting a self assessment return for the first time – including higher income child benefit charge (HICBC) taxpayers – need to register by 5th October 2018 so that they can complete and file their return by 31st January 2019…

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