Personal tax


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


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Letter
Notifying HMRC of a capital loss outside self-assessmentIf you sell an asset for less than it cost you will have made a capital loss.Usually a capital loss is claimed on your self-assessment tax return. If you don't complete a tax return you can notif... Read more
20 Jun 2017
Credits: 1
doc
Letter
Disincorporation relief claimGiven repeated attacks on the tax benefits of running a business through a company, you might decide to disincorporate. disincorporating - tax chargesIf you decide to transfer your company business and assets to an uninco... Read more
02 Jun 2017
Credits: 1
doc
Letter
IHT spouse's domicile electionIf you are married to a UK domiciled person, but you are non-UK domiciled, the intraspouse exemption for IHT is restricted. However, it's possible to make an election that removes this restriction using our new template le... Read more
02 Jun 2017
Credits: 1
doc
Letter
Reducing self-assessment payments on account letterIf you're in the self-assessment system you might be required to make payments on account of each year's tax liability.  However, where you expect your tax liability to be lower than the payments on a... Read more
08 May 2017
Credits: 1
doc
Letter
Claim for private residence relief to apply to a former homeWhen a marriage fails, tax planning is vital and sometimes urgent or avoidable tax liabilities can arise. An example of this is capital gains tax and the matrimonial home. Where one spouse (... Read more
26 Apr 2017
Credits: 1
doc
Letter
Claim to adjust base cost for part disposal of landWhen selling a small part of a piece of land you are still liable for capital gains tax (CGT). However, if conditions are met, you can make a claim under s.242 Taxation of Chargeable Gains Act 1992 t... Read more
06 Mar 2017
Credits: 1
doc
Letter
Election to be treated as domiciled in the UKWhere a married couple or civil partners consist of a UK domiciled individual (UK-dom) and a non-UK domiciled (non-dom) individual, there is a restriction on the amount that any transfers between them will... Read more
06 Mar 2017
Credits: 1
doc
Form
Pension premium recordKnowing how much has been contributed to your pension plan in any tax year is important so that you can calculate any higher or additional rate tax relief you're entitled to and check that you've not exceeded the maximum for which... Read more
15 Feb 2017
Credits: 1
doc
Letter
Claim for special reliefIf you fail to submit a tax return HMRC may estimate the tax payable and notify you of this on determination notice. The tax determined cannot be appealed against and is legally enforceable. The only way to overturn the deter... Read more
04 Jan 2017
Credits: 1
doc
Letter
Failed potentially exempt transfer - fall in value claimGifts between individuals are potentially exempt transfers (PETs) for IHT purposes. This means that there's no IHT to pay at the time, but if you die within seven years the full value of the ... Read more
12 Dec 2016
Credits: 1