Basics of CGT Rollover Relief

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Business Asset Rollover Relief is a valuable relief that allows you to defer payment of CGT on gains made when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the gain of

Government help for people in debt

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New government proposals have been published that look at further extending debt solutions to help more people suffering from problem debts. The proposals specifically look at increasing the financial eligibility criteria for debt relief orders

Online tax payment plans

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New figures published by HMRC have revealed that some 25,000 taxpayers have set up an online payment plan to manage their tax liabilities spreading payments of £69 million for up to 12 monthly instalments.

This follows an increase in the limit for

Tax when you sell shares

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Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% when you sell shares unless they are in a CGT free wrapper such as an ISA or pension.

If you only pay basic rate tax and make a small capital gain you may only be subject to a

Tax returns filing deadline is fast approaching

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The approaching deadline for submitting 2019-20 Self-Assessment tax returns online is 23:59 on Sunday, 31 January 2021. The filing deadline is not just the final date for submission of your Self-Assessment tax return but also an important date for

Simplified expenses motor vehicles

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There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses regime is not available to limited

Striking companies from Companies Register

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There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike off can be requested by a dormant or non-trading company.

A limited company can be

Government tackles late payment to small firms

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The Government has announced an overhaul of the Prompt Payment Code (PPC).

Under the new reforms, companies that have signed up to the PPC will be obliged to pay small businesses within 30 days – half the time outlined in the current Code.

Despite

Rights to regenerate

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We will soon have the rights to turn derelict buildings into homes and community assets. In a recent press release the Ministry of Housing said:

The public will be able to convert vacant plots of land and derelict buildings into new homes or

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