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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Taxes / VAT / customs on samples imported from China?
on 18/01/2021 15:24, by jurassicjango

Hi, I'm importing 6 product samples from China for the first time. Items are small in size and generic house holds by category. All packed in one carton of 7 kg (chargeable freight weight). How much it might cost in taxes / VAT / customs? What is proper way to ... Continue Reading

Amending a Tax Return if no Change to Tax Liability
on 18/01/2021 14:45, by CG

It appears some foreign interest and dividends (above the allowances) were not reported on a 2018 and 2019 Tax Return. If there would be no change to the tax due in those years, is it still a good idea to submit an amended 2019 return and write to HMRC about the ... Continue Reading

Classification of dividends as UK / overseas
on 18/01/2021 13:27, by Cap_Scarlet

I am a UK resident and in receipt of dividends from various companies which are all paid into my overseas brokerage account (in Germany). How should those dividends be classified for UK tax purposes? E.g. for a UK based company (e.g. GSK) the dividends are paid ... Continue Reading

CGT on 2nd property jointly owned deceased spouse
on 18/01/2021 12:25, by regt

Hi, Property was given in a will around 1990 (value £60000)....spouse dies 2012 leaving everything to husband..property.. sold for £250000 recently. Never nominated as Primary residence.Basic rate tax payer.. Does remaining spouse pay cgt on 50% of total gain ... Continue Reading

Minimise CGT on shares before the rate goes up
on 17/01/2021 21:59, by Pa954

I own some ordinary shares in a company I work for who will likely sell next financial year. If the government increases CGT to income tax levels in a few months I will have a hefty bill to pay. I am thinking I will gift the shares to my (unmarried) partner, not ... Continue Reading

Capital Gains Tax ( Apportionment )
on 17/01/2021 18:31, by GANDONAS22

Guest house to be sold attracting an overall gain of £55K based on sales minus purchase. Valuation Office Agency 42% non residential. When calculating chargeable gain would residential relief be available on the portion of 55K , that is calculating 42% of 55K ... Continue Reading

Use of investment accounts for limited companies
on 17/01/2021 18:28, by jm128629

Hello Everyone, Is it acceptable to do the following: To transfer money from a limited company bank account to buy NS&I Premium Bonds. The Premium Bond account is named with the name of the company director. However, the bond account is used solely and ... Continue Reading

complex
on 17/01/2021 17:02, by colin66

Hi Guys I need to understand what I can do with the 97/98 transitional overlap For 19/20 I have employed income £80,000 But extra SIPP pension contributions made of £25,000 self employed net profits of £3000 ( accounts to 30/4/19) been olky a little ... Continue Reading

ICPA Chairman Tony Margaritelli discusses 3 topics centred around October, including: 1. HMRC Furlough Fraud & Fighting For Your Clients, 2. Think About Yourself, 3. Are You a HMRC Customer.