Please help and clarify.. A higher rate tax payer, with trading profit in the range of 120k -125k, total taxable income in the range of 130k -140k is thinking of retiring at age 57 expecting goodwill and assets to bring a gain in the range of £485,000. With entrepreneurs' ... Continue Reading

I bought my house in 1985 lived in the house until year 2000 moved out and let the property, also became became non resident in 2000. Will I still be exempt from CGT up until 2015 After New rules are introduced in 2020 Continue Reading

Hi tax friends Could anyone help me with the following situation, please ? The “exam question” is if an underpayment of less than £3000 tax is due in 19-20 or 20-21 ? 16-17 no underpayments in previous years 17-18 I had a small paye underpayment of approx ... Continue Reading

I am trying to maximise my income tax bill for 2017/2018 in order to make as many EIS claims as possible (to benefit from potential CGT disposal relief). One way to increase the bill is to disclaim the Personal Allowance, which HMRC does accept. However, I would ... Continue Reading

I wonder if anyone can help me with something that has long confused me. If I have a limited company, and it makes a profit in year 1 but I decide to leave the profit in the company, then I will only have to pay corporation tax is my understanding. However, if ... Continue Reading

I have been living in the UK and having my self-employed business for 6 years as a graphic designer, so I work only on my laptop and have clients from around the world. I am moving abroad in 3 weeks to live in Spain but will keep my online business. What do ... Continue Reading

Hi I had to take out a loan from my personal company when I was unable to obtain a mortgage on a property due to the amount of work involved. My plan was use cash from the company until I can obtain a mortgage. This was a couple of weeks before my year end of ... Continue Reading

Hi Its a long winded one , but i will keep it short. We had a family home back in the 90's, and my parents bought it under their names + mine. Around 4 years ago, they took their name off and left it to me, its been on rent since. The family bought another ... Continue Reading