• Marriage still has some tax benefits

    Making use of a spouse’s allowable losses

    Spouses and civil partners benefit from special rules for capital gains tax purposes which allow them to transfer assets between them at a value that gives rise to neither a gain nor a loss. The transferee spouse/civil partner effectively takes on the transferor’s base cost. This can be very useful from a tax planning perspective to maximise available annual exempt amounts and capital losses.


  • Understanding how dividends are taxed.

    Understanding how dividends are taxed

    Dividends have their own tax rules and their own rates of tax.     

  • Limited time penalty waivers for 2020/21 tax returns.

    Limited time penalty waivers for 2020/21 tax returns

    In this article learn more about the penalty waivers being applied by HMRC in cases where the 2021/22 tax return is filed late or tax due on 31st January 2022 is paid late to help those affected by the surge in Covid-19 cases.     

  • Self Assessment penalty waivers 20/21

    Self Assessment penalty waivers 20/21

    HMRC have announced they will not charge late filing fees or late payment penalties on those who do not file before 28th February and pay or have a plan in place by 1st April 2022.

  • Do I need to top up my pension?

    Do I need to top up my state pension?

    A full single tier state pension is payable to people who have 35 qualifying years. Individuals who have less than 35 qualifying years, but at least 10 qualifying years are entitled to a reduced state pension.

  • Income from savings – What is tax-free?

    Income from savings – What is tax-free?

    Not all types of income are equal from a tax perspective, and savings income enjoys dedicated allowances, tax rates and reliefs which allow a taxpayer to enjoy some or all of their savings income tax-free. 

  • Struggling to pay tax – What should you do?

    Struggling to pay tax – What should you do?

    The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card bills. However unpalatable the 31 January tax deadline is, it is not one that should be ignored.

  • Payments on account – Who needs to pay and how are they calculated?

    Payments on account – Who needs to pay and how are they calculated?

    The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a late filing penalty is to be avoided. 

  • Reporting Covid-19 Support Payments on your tax return.

    Reporting Covid-19 Support Payments on your tax return

    If you are self-employed and you received Covid-19 support payments during the pandemic, you may need to report these on your self-assessment tax return. 

  • Keeping the Christmas party tax-free.

    Keeping the Christmas party tax-free

    Last year, the Covid-19 pandemic and national lockdown took Christmas parties (other than virtual ones) off the agenda. This year, they may be a temptation to make up for lost time. How can you celebrate the festive season without triggering a tax liability in the process?

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