Paying tax via your tax code

Paying tax via your tax code

by | Aug 15, 2024 | Income Tax

You may be able to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, money is collected in equal monthly instalments over the tax year. You can pay your...
What is Gift Hold-Over Relief?

What is Gift Hold-Over Relief?

by | Aug 15, 2024 | Capital Gains Tax

Gift Hold-Over Relief defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to benefit the buyer. The relief allows any gain on the asset to be 'held-over' until the...
IHT unused Residence Nil Rate Band (RNRB)

IHT unused Residence Nil Rate Band (RNRB)

by | Aug 15, 2024 | Inheritance Tax

The Inheritance Tax Residence Nil Rate Band (RNRB) is a transferable allowance available to married couples and civil partners when their main residence is inherited by direct descendants, such as their children or grandchildren. The RNRB is available at a maximum...
Do you have a personal tax account?

Do you have a personal tax account?

by | Aug 15, 2024 | Income Tax

HMRC’s Personal Tax Accounts (PTAs) serve as an online tool that enables taxpayers to view and update their information in real time. The PTA can be used for many routine requests and services and help you bypass the need to call or write to HMRC. Every...