I am trying to assemble a schedule of income and expenditure for the last 7 years as part of the information that my heirs will have to include on form IHT403 after my death under the section relating to gifts out of normal income. Apart from pension income, I ... Continue Reading
Hi, I am a freelance web developer, have been for 15 years. Im a sole trader, non-vat registered. I play guitar, and Ive been asked by a few people if I offer guitar lessons. It got me thinking whether this could be another revenue stream. If I start making ... Continue Reading
Hi I'm a British citizen but NOT resident and NOT domicile in the UK. if I sell my UK rental property am I still subject to CGT. I know it's a bit of a broad question but generally speaking. Continue Reading
I've inherited some National Grid shares. The deceased owner died shortly before the rights issue in May 2024, but I received the shares after the rights issue. The rights were not taken up while administering the estate. I want to calculate the CGT base price ... Continue Reading
This may seem like a silly question but does the £12,570 tax free allowance apply to both husband and wife separately? In other words, as a couple they could each receive an annual income of less than £12,570 and not be required to pay income tax? Thank you Continue Reading
Hi there, I received a Show Cause Notice u/s 271 from IT department in last March'24 on a transaction back in 2014 . I replied to them with requested documents. The case status is still showing as 'Open'. Please could you advise me how long they keep open? Can ... Continue Reading
Hi, I made a small profit on crypto in 22/23 tax year. It is less than the personal allowance for CGT. If it is less than the CGT do you need to declare it on a self assessment? Continue Reading
I recently checked my employment history on the HMRC app and I have no employment history for ten years, despite being employed by a company and paid weekly (by bank transfer) by them. I received a P60 and payslips (it took ages to get) when I asked for them a ... Continue Reading
