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ACCA – Top Ten Common Tax Elections and Claims

by Jessica Garbett | Jan 7, 2022 | ACCA, business taxation, capital taxation, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Common elections and claims that are useful tax planning or compliance tools Some of these claims have strict time limits, which should be...

ACCA: Capital gains and chattels

by Jessica Garbett | Jun 28, 2021 | ACCA, capital taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA We take a look at the peculiar rules around exemptions and calculations Chattels are defined as ‘tangible moveable property’. A tangible...

ACCA summary of Latest news and updates from HMRC

by Jessica Garbett | Apr 26, 2021 | ACCA, business taxation, capital taxation, Covid19, personal taxatation, property taxation

Latest news and updates from HMRC Catch up on this weeks update from HMRC on CJRS and deferment The following quick links help navigate through the HMRC site: VAT deferral – apply now to spread your payments further The VAT deferral new payment scheme is open...

Are all trusts subject to IHT?

by Jessica Garbett | Mar 25, 2021 | ACCA, capital taxation

A basic understanding of wills and trusts can help an executor to consider the options available and questions to ask when looking after the wealth of the family. Settlements in trusts are taxable for IHT purposes as if they are trusts without an interest in...

Maintaining annual exempt amount for capital gains tax

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, capital taxation

A freeze on the annual exemption amount to 2026! Legislation will be introduced in the Finance Bill 2021 to maintain the annual exempt amount at its current level of £12,300 for individuals and personal representatives and £6,150 for most trustees of settlements for...

Inheritance tax bands to freeze for five years

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, capital taxation

Thresholds on the nil-rate, and residence nil-rate and taper, will be fixed until 2026 Legislation will be introduced in Finance Bill 2021 to maintain the inheritance tax (IHT) nil-rate band (NRB), residence nil-rate band (RNRB) and RNRB taper threshold at their...

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ACCA – Top Ten Common Tax Elections and Claims

ACCA: Capital gains and chattels

ACCA summary of Latest news and updates from HMRC

Are all trusts subject to IHT?

Maintaining annual exempt amount for capital gains tax

Inheritance tax bands to freeze for five years

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