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MAKING TAX DIGITAL

MTDfV - are you ready for the next step?

Making Tax Digital for VAT became compulsory in April 2019 which means another important digital deadline is looming. What is it?
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HMRC

HMRC’s new guidance on cryptoassets and business taxes

Until now, HMRC’s guidance on the tax consequences of using or trading in cryptoassets, such as digital currencies like Bitcoin, was mainly aimed at individuals. It’s now published new guidance for businesses. What’s the full story?
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ACCOUNTS

Cash basis accounts - are they worth the effort?

HMRC allows some unincorporated businesses to base their tax bills on profits calculated using the cash basis. How can you turn this administrative simplification into a tax and NI saving?
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BENEFITS

Inventive ways to use trivial benefits

Despite the tax and NI exemption for trivial benefits being more than three years old, business owners are sometimes mystified about when and how they can use it, especially for themselves. How can you get the most from it?
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CAPITAL GAINS TAX

Tax rate trap on sale of land

Our subscriber received his 2018/19 tax bill from HMRC which is higher than expected. The difference is extra capital gains tax relating to the sale of land. HMRC says it’s because the tax rate for this is 28% and not 20%. Is this correct?
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INHERITANCE TAX

Can you “maintain” your family at HMRC’s expense?

Giving away your wealth to members of your family reduces your estate for inheritance tax purposes, but only after seven years. However, it’s possible to achieve the same result without the wait. What steps do you need to take?
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VAT - CARS

Maximise your VAT claim for road fuel

If your business pays for fuel for work and private journeys, there are different methods to work out the VAT reclaimable. There are further complications if your business is partially exempt. Which method should you use to maximise your claim?
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Last updated: 06.12.2019

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