Telephone advice a reasonable excuse
The First-tier Tribunal (FTT) recently heard an appeal against late filing penalties imposed on both partnership and individual self-assessment returns for 2010-11 and 2011-12. There were also appeals
Category: Income Tax
Tax on rental profits
A taxpayer, Miss Akan, appealed to the First Tier Tribunal (FTT) against assessments in relation to Income Tax, Capital Gains Tax and penalties relating to income arising from, and from her disposal
Allowable costs for property businesses
Costs that can be deducted by individuals that have a property rental business, depend on the type of property that is being rented out. There are three main categories of property business that need
How to earn more at the basic rate of tax
Donations made to charity over the course of a tax year can add up and taxpayers should ensure that they keep a proper record of all donations and note them on their tax return. The Gift Aid scheme is
Help to Buy: ISA scheme
The Help to Buy: ISA scheme launched in December 2015 and allows savers to claim a government bonus of 25% on monthly savings of up to £200 towards their first home. The bonus translates to: an extra
Time to declare offshore assets?
HMRC has published a press release to remind taxpayers that the 30 September 2018 deadline to come forward and declare any foreign income or profits on offshore assets is fast approaching. This is the
Will I pay tax when coming to the UK?
The statutory resident test (SRT) is used to determine if someone is resident in the UK for tax purposes when coming to the UK. Historically, residence in the UK was determined by being in the UK in
Rent-a-room relief to be modified
The publication of the draft Finance Bill 2018-19 includes legislation to change the way the rent-a-room relief scheme works. Following last year's Budget, a consultation was launched by HM Treasury
1 million couples can still claim £900 tax refund
The marriage allowance allows couples to share part of their personal tax-free allowance in certain circumstances. The marriage allowance is available to married couples and those in a civil
Claiming Income Tax if you have stopped work
HMRC issues guidance that covers what you need to do if you stopped work. The guidance covers the main reasons that you might have stopped work, for example, being made redundant or leaving your