Dear collective brains :) Due to a past issue with the IRS "misplacing" a page of a TR submitted via mail, we have requested that our CPA files future returns online. The CPA has advised that the IRS will not accept efile because of the exempt income under tax ... Continue Reading
Good afternoon I'm trying to help a friend, who although he clearly has no tax to pay, might be liable for failure to notify penalties, which look quite fierce. The background is: a) He used to be on PAYE, and has a UTR. b) He stopped full time work some years ... Continue Reading
Just set up a business and my corporation tax periods are split 01.02.23-30.11.23 & then 01.12.23-31.03.24, ignoring the part which is 01.02.23-31.03.23 as prior year, I calculated my tax for the period April23-Nov23 using HMRC calculator, if I then use the ... Continue Reading
I recently inherited a one-third share of an income-generating property from my father, a non-UK citizen domiciled in Thailand, who has passed away. As all the income from this property supports my mother's living expenses, I need guidance on reporting this to ... Continue Reading
We are having to downsize on retirement. We own 2 homes:- 1.The family home in Surrey, which we have owned & lived in for>50yrs (de facto -main residence) 2. A 2nd home on the coast, owned since 2015 We have devised a "cunning plan":- 1. Sell our main ... Continue Reading
My wife died in 2018 and at the time didn't need to apply for probate as we jointly owned our home and most of our savings were in my name and in a joint ISA. A recent decision to relocate / sell home has made me think about future inheritance for my 2 children. When ... Continue Reading
I’m selling property to my daughter. However I’d like to gift a part of it to her. What amount can I gift without CGT kicking in Continue Reading
A company retains me as a consultant at £1000 pcm. Their finances are eccentric. They miss the Feb and March 2024 payments, then pay for April, sending a note of apology saying that 'Missing payments will follow when they can manage'. On past form I think the ... Continue Reading
