Personal tax


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


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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. T... Read more
19 Jan 2018
Credits: 1
doc
Checklist
Enquiry - capital statement checklistDuring an enquiry HMRC may require a so-called capital statement to be prepared. Preparing an accurate statement is important to settling the enquiry. Use our checklist to help you produce your capital statement.w... Read more
19 Jan 2018
Credits: 1
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Letter
IR35 - prevention of double taxation claimAn 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 d... Read more
19 Jan 2018
Credits: 1
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Letter
Election for rent-a-room relief not to apply Where you let part of your home, HMRC calculates the taxable income for a year by deducting a fixed sum from the rent etc. you receive. This deduction is called rent-a-room relief and is £7,500 (2017/18). ... Read more
19 Jan 2018
Credits: 1
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Letter
Non-resident CGT charge electionSince 6 April 2015, non-UK residents have been liable to capital gains tax (CGT) on disposals (sale or transfer) of UK residential property. Where this rule applies the cost of the property for CGT purposes (the "base c... Read more
22 Dec 2017
Credits: 1
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Letter
Claim for relief for damaged assetCapital gains tax may be payable on capital sums which derive from assets. For example, compensation payable to you for damage to an asset. However, if you use the amount received to repair or restore the asset, you ... Read more
10 Nov 2017
Credits: 1
doc
Letter
Letter notifying EIS relief clawback eventIf you make a qualifying investment under the enterprise investment scheme (EIS), there are a number of things that can happen during the minimum holding period that lead to relief being reduced or fully with... Read more
25 Oct 2017
Credits: 1
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Letter
Remittance basis electionIf you live in the UK, but are not domiciled here, you may benefit from making a claim to be taxed on the remittance basis.Remittance basisA UK resident taxpayer is generally subject to UK tax on their worldwide income. Resid... Read more
12 Oct 2017
Credits: 1
doc
Letter
Option for special method of cost apportionmentIf you sell a piece of land which is part of a larger estate, a little known concession could save you some tax.General ruleThe general rule for any part disposal of an asset is that the amount of the or... Read more
29 Sep 2017
Credits: 1
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Letter
EIS relief claimWhen you make a qualifying enterprise investment scheme (EIS) investment, you have the right to offset the income tax relief against your tax bill for the year before you made the investment. How can you make this claim?EIS relief - g... Read more
03 Jul 2017
Credits: 1