The 2017 Budget saw the indexation allowance frozen with effect from 1 January 2018. But what does this mean in practice, and is there any need to act now to avoid a tax bill?
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VAT administration can be time consuming for smaller businesses, or costly if an advisor is hired to undertake the work. Can the flat rate scheme offer a simpler alternative, and how can our new
document help?
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Can I visit?..Q. I am planning to leave the UK for a number of years (possibly permanently). How many days can I visit without becoming resident for tax purposes? A. The number of days you can spend
in the UK and remain non-resident depends on a number of factors. The best way to check is to use our Tax Residency Status Tool to plan ahead to determine...
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Sometimes, when dealing with a deceased person’s estate, it transpires that the will (or intestacy rules) give a result that is undesirable from a tax perspective. Is it too late to do anything at
this point, and how can our document help?
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Due to uncertainty about how easy it will be to move abroad post-Brexit, many people are planning to leave prior to the exit date. But if you do this, how many days can you visit the UK before you
are classed as resident again?
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What can we claim?..Q. Our company was set up 18 months ago when a bank account was opened. We incurred a lot of expenditure before starting to trade, purchasing equipment and hiring staff. Most of
this was funded with a bank loan. We have just started trading successfully. Can we offset these expenses in our accounts? A. There is good news. Similar...
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A company can incur expenses on things like bank loans and other finance products before it actually starts to trade. This would usually be treated as a non-trading debit, but how can our new
document achieve a better result?
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HMRC regards cash traders as high risk as far as underpaying VAT is concerned and targets them with special teams. How should you advise such clients and can you minimise the risk of a visit in the
first place?
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Your client has realised a substantial capital gain in the current tax year, and is looking to you for advice on how they might push back the payment date. How might the enterprise investment scheme
(EIS) be of use to them?
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When your clients make a trading loss, there are a number of options for its utilisation. One of the least well-known is offsetting capital gains. When might it be worth using this, and how do you go
about it?
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