Personal tax


Because dealing with the Taxman and calculating your own tax can be a nightmare


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Policy
Employee - provision of home telephone policy If one or more of your employees work from home and need a landline phone for work purposes, you might agree to provide the equipment and pay the rent and call charges. HMRC may argue that a benefit in ki... Read more
UPDATED19 Feb 2018
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Policy
Cars and car allowances policy If you provide your employees with a car you can use a policy to set the terms and conditions of its use. If only a couple of employees have company cars, you might find it easier to include the provision in their contr... Read more
UPDATED16 Feb 2018
Credits: 1
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Miscellaneous
Record of gifts One way to reduce an inheritance tax (IHT) bill is to simply give away your wealth during your lifetime. Keeping a record of the gifts you've made and IHT exemptions claimed will help the executors of your estate tackle any queries fr... Read more
UPDATED14 Feb 2018
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Letter
Where, within four years of the date of the deceased's death, a property in their estate is sold at open market value for less than probate value, you can make a claim to recalculate the inheritance tax using the sale value instead. Conditions A numb... Read more
UPDATED14 Feb 2018
Credits: 1
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Form
If you are non-UK resident under the statutory residence test, you will only be taxable on your UK sourced income. Use our handy log to record your visits to the UK each year. Residence Residence is an important concept in UK taxation. If you are a U... Read more
UPDATED08 Feb 2018
Credits: 1
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Agreement
Chattel lease In order for a gift to be effective for inheritance tax (IHT) purposes, you must be excluded from benefiting, other than to a minimal extent, from the asset given away. However, you can use the asset without jeopardising your IHT positi... Read more
UPDATED31 Jan 2018
Credits: 1
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Letter
Overpayment relief claim Where you discover a mistake in your tax return which resulted in you paying or owing more tax than was properly payable, and it's too late to correct under self-assessment rules, you can make an overpayment relief claim. ... Read more
UPDATED19 Jan 2018
Credits: 1
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Checklist
Overpayment relief claim checksheet Where you make a mistake in your individual, company or partnership, tax return and the time limit for correcting this under the self-assessment rules has passed, you can submit an "overpayment claim" to recover a... Read more
UPDATED19 Jan 2018
Credits: 1
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Letter
An individual can claim a deduction from their taxable income where it includes a deemed payment of salary under the IR35 rules and the same income, or part of it, is in the same or a later year, taxable as dividend income. This prevents the income f... Read more
UPDATED19 Jan 2018
Credits: 1
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Letter
Amending a personal tax return letter You are entitled to amend entries on your personal self-assessment tax return within the "amendment window". Where you completed and submitted your return electronically either using HMRC's or commercial software, y... Read more
UPDATED19 Jan 2018
Credits: 1