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Exploring Alternatives to a Wealth Tax: Practical Solutions for Raising Revenue As pressure mounts to introduce a Wealth Tax in the UK, innovative tax strategies could pave the way for increased revenues. In this blog post, I'll examine options such as Capital Gains Tax reforms, Inheritance Tax simplifications, and broader taxation measures targeting wealth, while steering clear of a flat Wealth Tax for all ... New Regulations to Fine Crypto-Investors £300 for Non-Disclosure UK crypto-investors face new regulations in 2026 under the OECD Cryptoasset Reporting Framework. Avoid penalties by disclosing transactions ... Understanding Side Hustle Taxation: Essential Tips from HMRC Stay on top of side hustle taxation with HMRC guidelines. Register and file a self-assessment tax return for earnings over £1,000 by January ... The Dangers of Raising Capital Gains Tax Rates at the Autumn Budget Capital gains tax is under scrutiny as the Chancellor considers potential hikes to fill budget gaps, but such moves could backfire on economic growth ... Tax Freedom Day Falls Three Weeks Later in 2025 Tax Freedom Day in 2025 has shifted to 12 June, signaling a concerning trend. Explore strategies to bring yours closer ... Unlock Extra Income with the Rent A Room Scheme Earn up to £7,500 tax-free with the Rent A Room Scheme. Perfect for homeowners or renters looking for extra income ...
Salary or Dividends: Optimising Income for Directors Optimising income for directors: Find the balance between salaries and dividends while navigating tax changes. Improve your remuneration strategy ... How VAT on Private School Fees Triggered a 22.6% Rise in Education Costs VAT on private school fees causes 22.6% increase in costs. Enrolment declines raise concerns for future of private education ... HMRC Taking A Good Look At Savvy Online Sellers Online sellers react to HMRC's new data sharing initiative to tackle tax evasion. Mixed reactions from online sellers ...,
Trusts Did Not Benefit Family in £442k Inheritance Tax Case A recent case challenged HMRC's view on trust benefits in inheritance tax matters, highlighting complexities in tax law ... Maximising Tax Relief on Pensions The implications of tax policy changes can significantly impact individual financial planning, and strategic pension contributions serve as a vital tool in mitigating these effects ... The Future of Small Pension Pots The landscape of retirement savings in the UK is changing, especially concerning small pension pots ... Stamp Duty: The £6.6M Property That Cost An Extra £475K Few events are as nerve-wracking as encountering unexpected tax demands following a significant purchase ... More Than 1.1 Million Savers Affected by New Tax on Savings More than 1.1 million savers across the country have been impacted by a burgeoning tax on savings ... The Perils Of Gifting Cash To Your Children Gifting cash for a property purchase is a common way parents support their offspring in securing a home ... Do You Need To Make A Voluntary Disclosure To HMRC? With the introduction of new computer systems, it is increasingly difficult to keep things hidden from HMRC ... Time is Running Out to Top Up Your State Pension As individuals approach their retirement years, the importance of a robust financial plan becomes paramount ... Writing Life Insurance in Trust Can Benefit Your Estate Inheritance Tax (IHT) is a complex and often daunting subject for many individuals and families ... ATED: Annual Tax On Enveloped Dwellings Deadline Are you due to submit your Annual Tax on Enveloped Dwellings (ATED) soon? You may need to even with no tax due ... Don’t Miss Out on Your Tax Free Allowances As the final weeks of the 2024-25 tax year approach, taxpayers are aware of an impending deadline: the 5th of April ... Many Electric Vehicle Owners Unaware of Looming Road Tax The landscape of electric vehicle EV ownership is set to undergo a significant transformation in terms of fiscal responsibilities as 83% of EV owners remain oblivious to a looming £195 road tax bill that will be implemented from the 1st of April 2025 ... Understanding Deeds of Variation Dealing with the loss of a loved one is never easy, especially when coupled with the complexities of managing an estate ... Inheritance Tax: Understanding Double Taxation Risks for Pensions The recent announcement of pensions and Inheritance Tax has significant implications for your financial planning ... HMRC: Important Updates on Disguised Remuneration HMRC knows that navigating the complexities of taxation concerning the Loan Charge can feel overwhelming ... Understanding HMRC's Compliance Priorities For 2025 The fiscal landscape continues to shift under the new government, and HMRC will ramp up its investigations in 2025 ... HMRC Encourages Voluntary Disclosures for R&D Tax Relief Over-Claims There are concerns about inaccuracies with R&D tax relief claims, so HMRC has launched a new disclosure service ... HICBC: A Guide for Separated Families During separation, one financial aspect that often goes overlooked is the High-Income Child Benefit Charge ... Wishing You All A Very Merry Christmas With most of us finishing for the holidays this week, I thought I'd join the festivities and let you have some tax trivia ... A Strategic Approach to Cost Management Using Salary Sacrifice The increase in employers' national insurance contributions means it is crucial to explore salary sacrifice ... Double Cab PickUps Are Still Vans And Not Cars! Double cab pickups have long been a popular choice for many businesses, especially in farming and construction ... HMRC: Timely compliance is crucial for landlords In a recent advisory, HMRC has emphasised the importance of compliance for landlords with unpaid tax on property income. As the self-assessment deadline looms, the urgency for individuals involved in property rental increases ... |
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