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Posts by Paige Collins

The Decline of Trusts

The number of trusts filing self-assessment tax returns for 2021/22 was 37% lower than for 2003/04. The decline comes as no real surprise given the eroding advantages of using a trust and the recent requirement to register trusts with HMRC. Interest in possession trusts  Interest in possession trusts have seen...

R&D tax relief schemes set to merge, but concerns remain

The two existing research and development (R&D) tax relief schemes are set to merge. However...

NIC reforms for the self-employed

National insurance contribution (NIC) changes for the self-employed announced in the Autumn Statement come in...

VAT registration goes online only

HMRC is moving ahead with its ‘digital by default’ ambition by pushing VAT registration to...

National Living and Minimum Wages increase

Minimum wage rates will see substantial increases from 1 April 2024 – welcome news for younger workers and apprentices, but...
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Free property alerts for landlords

Landlords in England and Wales might not be aware, but there is a free property alert service that monitors any...
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Cash basis to become default

From 2024/25, restrictions to the cash basis will be removed, making it the default method for calculating trading profit for...
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Handy hints ahead of self-assessment

The 31 January 2024 deadline for submitting a 2022/23 self-assessment tax return is not far off, especially for those not...
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Finalise returns figures and file your tax returns early

HMRC urges taxpayers to finalise tax returns early and urges those with 2021/22 issues to resolve provisional figures.
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Mitigating rising corporation tax rates

New HMRC statistics have shed some light on how many companies are affected by the recent hike in corporation tax...
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