Personal tax

Election for foreign lossesIf you are non-UK domiciled but tax resident here, you can claim the remittance basis of assessment for your foreign income and gains. Where you make a capital gains tax (CGT) loss on foreign assets you can obtain relief ag... Read more

Election for rent-a-room relief alternative basis If income from property does not qualify for rent-a-room relief only because it exceeds the maximum amount permitted, an election can be made to deduct the maximum amount from the income instead of th... Read more

Employee - provision of home telephone policyIf 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 kin... Read more

Cars and car allowances policyIf you provide your employees with a car you can use a policy to set the detailed terms and conditions of its use. However, you must now provide the key information relating to benefits, including company cars, in the wr... Read more

IHT claim for fall in value relief for land and buildingsWhere, 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 inherit... Read more

Record of giftsOne 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 fro... Read more

Log of UK visitsEstablishing your country of tax residency is important to determine what income and gains you will pay UK tax on. For this reason you should keep a continuous record of your visits to the UK.ResidenceIf you are a UK tax resident, you... Read more

Chattel leaseIn 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 positio... Read more

Overpayment relief claim If you discover a mistake in your tax return which resulted in your tax bill being too high, and it's too late to correct your self-assessment tax return, you can make an overpayment relief claim. The claim must include the ... Read more

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 an... Read more