Personal tax - Dealings with HMRC

EIS relief claimWhen you make a qualifying enterprise investment scheme (EIS) investment, you have the right to income tax relief for the year or the year prior to that in which you made the investment. EIS relief - generallyWhen you make an investme... Read more

Claim for a capital loss outside self-assessmentIf you sell an asset for less than it cost, you will have made a capital loss. Usually, you are required to claim tax relief for a capital loss through your self-assessment tax return but if you don't co... Read more

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

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

 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 whi... Read more

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

Election for a period of grace to apply to FHLsWhere you own a property which you let furnished as holiday accommodation it can qualify for preferential tax treatment where various conditions are met.When can you use the election?To count as an FLH t... Read more

Election to average occupation of FHLsIf you let a property as furnished holiday accommodation it qualifies for preferential tax treatment if various conditions are met. One condition requires that the property is let for a minimum number of days eac... Read more

Official error claim for tax not to be collectedIf HMRC has delayed using information in its possession and this results in you paying too little tax, it can write off the arrears of tax under extra-statutory concession (ESC) A19. However, despite be... Read more

Self-employed pages reviewBefore filing a tax return it's a good idea to carry out last minute health checks with a view to reducing the chance of it being selected for an enquiry. This is especially important if you are self-employed. Check your answ... Read more