It is possible that your estate will pay no IHT on the valuation of any business assets. The amount of relief available depends on the type of assets held at death. Your estate may be able to claim 50% or possibly 100% relief. You can get 100% Business Relief on: a business or interest in…Read more
Do you continue to trade with the EU?
Government have set out a list of six actions that all businesses who continue to trade with EU customers or suppliers should complete now that the formal transition has ended.. The list is: Goods - if you import or export goods to the EU, you must get an EORI number, make customs declarations or employ…Read more
Private residence, court actions available on separation or divorce
Couples may have experienced the difficulties that can arise when couples separate or divorce. One area where they may need to resolve are the options that courts have to direct ownership of the marital home. The courts can exercise their jurisdiction in the following ways. By recognising an existing equitable interest of the spouse or…Read more
Consider online tax payment plans
January is the month that taxpayers registered for self-assessment need to pay their taxes. Usually, this amounts to any underpayment for the previous tax year and a first payment on account for the current tax year. Unfortunately, HMRC will base their payment on account for 2020-21 on the self-assessment liability for the previous tax year,…Read more