Search Results for: “tax”

Inheritance tax payers lose out on £5.4b in 2017/18

2017/18 has seen the UK lose out on £5.4b on inheritance tax (IHT) rise. The ‘record high’ intake has increased 13% from the previous year of £4.7 leaving taxpayers losing out on more than ever before. The freeze on inheritance … Continue reading

Where does our tax get spent?

Image courtesy of Wikimedia Commons A lot of taxpayers view the money they’ve paid to HMRC as income lost, without of course remembering that the government reinvests this cash into our public services. As part of the annual budget, documents … Continue reading

Personal tax procrastination – three excuses that didn’t dodge the tax penalty

There’s a lot to be said for those who don’t manage to submit their tax returns on time. But for some of the population whose tardy timekeeping leaves them in a bit of a pickle, it can often resort to … Continue reading

Report: HMRC scrutinise R&D tax relief applications as the number of claims rises

Following research by international law firm Pinsent Masons and as reported in CCH Daily, the amount of R&D tax credits that are being investigated by HMRC has risen four-fold from £90m to £425m in the past year. With the amount … Continue reading

Using business relief to combat rising inheritance tax figures

As reported in Professional Adviser, the latest Office for Budget Responsibility figures are reporting that inheritance tax (IHT) paid to the government will break the £5bn mark in 2017, potentially reaching £6.2bn by 2022. So these reports beg the question, … Continue reading

How to value your estate for Inheritance Tax purposes

To value an estate for IHT purposes you need to list out all the assets and work out their value at the date of death. Common assets include the following: (this is not a full list) Money Property & land … Continue reading

Top planning tips for Inheritance Tax

We’ve put together our top planning tips for Inheritance Tax and how you can reduce your IHT and protect your assets. Live 7 years! If you give assets away and survive 7 years then there will be no IHT on … Continue reading

Government announce delay to making tax digital proposals

David Evans, our Tax Partner, discusses the announcement of this delay and what it means for businesses going forward. Last week the Government finally gave in to pressure and announced that they would delay the rollout of Making Tax Digital … Continue reading

What is IHT | Sedulo

What is Inheritance Tax?

Inheritance Tax or “IHT” is a tax which is paid on the value of someone’s estate after they have died. It is also paid on certain gifts made during someone’s lifetime. The estate includes their property, money and possessions. There … Continue reading

Inheritance Tax (IHT) Planning

  Give more to your family and less to the taxman with Inheritance Tax planning If you don’t have the right IHT planning in place for your family, HMRC may take 40% of the bulk of your estate. Business professionals … Continue reading

Quarterly Tax Update – Top Tweets

On Friday 9th June, our Tax department presented their quarterly tax update for this year to the team, over a few breakfast bites and hot drinks. The Tax team covered topics on the Finance Act, Making Tax Digital and recent … Continue reading

Budget 2017: The effect on individual taxpayers

On the 8th March, the Chancellor, Phillip Hammond delivered his first (and last) Spring Budget. This was a Budget to “prepare Britain for a brighter future” and to build “the foundations of a stronger, fairer, more global Britain”. Compared to … Continue reading

Top tax planning tips for year end

As we near the tax year end on the 5th April, our Chartered Financial Planner, Gareth Rose, has given his top ten tax planning tips for year end and has listed the top areas you should look at to maximise … Continue reading

Expert view – Tax Partner, on the Spring Budget 2017

The first of two Budgets for 2017 took place Wednesday 8th March, 2017 and saw the Chancellor Exchequer, Phillip Hammond, announce his first full Budget speech to the House of Commons. The ‘Last’ Spring Budget delivered by Philip Hammond yesterday … Continue reading

North West businesses missing R&D tax savings

Businesses across the North West aren’t taking advantage of government incentive schemes. According to a recent report, research has shown that North West businesses are losing out on millions of research and development tax relief every year compared to similar … Continue reading

Self Assessment tax return deadline is fast approaching

The deadline for filing Self Assessment Tax Returns online is nearing! WHEN IS THE TAX DUE? HMRC’s unmistakable advertising campaign has been going a while now, giving all taxpayers a reminder that they must submit their return for the 2015/16 … Continue reading

Download your free Tax Enquiries guide

Introduction to tax enquiries and investigations Tax Enquiry Fee Protection Scheme I’ve had this income for years and HMRC have never asked me about it, why should they now? Is it worth the risk of a criminal record? Do you … Continue reading

Download your free Tax Returns guide

Do I have to complete tax returns? Should I use a tax adviser to complete my tax return? My income is taxed before I get it, do I need to include it in my return? Some of my income arises … Continue reading

What You Need To Know About Company Car Tax

We are often asked by business owners whether it would be beneficial for them to run their car through their business. Our tax experts have created a free downloadable guide on the taxation of company cars, which covers all the … Continue reading

Download your free Taxation of Company Cars Guide

Expert view What is a company car? How is it taxed? How much tax will I pay? How the Benefits in Kind work What is the P11D and what details are required by HMRC? How is the P11D (BIK) value … Continue reading

Download your free Research & Development (R&D) Tax Relief guide

Enhanced tax relief designed to encourage companies to invest in research and development What is R&D relief worth? I haven’t made any taxable profits yet, how can claiming help us? Is there a time limit for making claims? Is there … Continue reading

Download your free Pre year end tax planning for individuals guide

Personal Allowance (under 65’s) £9,440. Personal Allowance (over 65’s) £10,500 or £10,660 Basic Rate Band £32,010 Points affecting higher earners: Capital Gains Tax (CGT) Pension Contributions – Annual Limit £50,000 Individual Saving’s Accounts ( ISA’s) DOWNLOAD Need help with personal … Continue reading

Download your free NISAs & Tax Efficient Savings guide

What is an NISA? Why would I invest or save money in a NISA? What can I invest in with a NISA? Which type of NISA is best? Who can invest in an NISA? What happens to my NISAs if … Continue reading

Download your free JISAs & Children’s Tax Free Savings guide

What is a Junior ISA? Who is a JISA available to? Why would I invest or save money in a JISA? What are the tax free benefits of a JISA? What type of things can I invest in with an … Continue reading

How private should your tax return be?

Recently, the Prime Minister take the unprecedented step of releasing details from his tax returns over the last six years. Although Mr Cameron hasn’t published his tax returns in full, the information released does include details of his income and … Continue reading

Download your free Property Income Tax guide

Do I have to pay tax? Do I need to complete a tax return? Do I have to pay national insurance? Can I reduce tax? Residential properties Furnished residential lettings Commercial properties Furnished holiday lettings What if I make a … Continue reading

Record-breaking tax return submissions made on xmas day and NYE

A record-breaking number of workers filed their tax returns on Christmas Day and New Year’s Eve. Nearly 25,000 people stayed away from the end-of-year celebrations to submit their returns — the most ever, according to HM Revenue & Customs. More … Continue reading

Will flood victims be fined for missing tax return deadline?

For some of you, you’ll be glad to know that those affected by the December floods won’t have to meet the January 31 self-assessment deadline, HMRC has said. There have been special extensions granted for those who have a reasonable … Continue reading

Are tax enquiries expensive?

Yes, depending on the nature of the enquiry, time costs for dealing with HMRC, correspondence can run into thousands of pounds. Here, we offer a Tax Enquiry Fee Protection Service, where for a small annual payment (additional to your tax … Continue reading

How can I reduce property tax?

When renting out a property, the tax treatment depends on the kind of property you are renting out. The rules are different for; Residential properties, furnished residential lettings, furnished holiday lettings and commercial properties. Residential properties When renting out a … Continue reading

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