November 2023 - Page 2 of 5

23 Nov 23

The badges of trade

The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making

23 Nov 23

Income Tax – £5,000 savings zero rate band

If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate

23 Nov 23

CGT – Lettings relief

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as Private Residence Relief

23 Nov 23

IHT – Giving away your home before you die

The majority of gifts made during a person's life, including gifting a home, are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially

22 Nov 23

Autumn Statement Summary

The Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons. The government continues to be faced with challenging economic conditions

21 Nov 23

Fuel price watchdog sharpens its teeth

UK motorists will be protected at the pumps under tough new powers that will shine a light on any attempt from retailers to unfairly hike up fuel prices. Under new amendments

21 Nov 23

£4.5bn for British manufacturing from 2025

The government has announced £4.5 billion in funding for British manufacturing to increase investment in eight sectors across the UK. The funding will be available from 2025 for

16 Nov 23

Time to Pay tax

If you are having trouble paying your tax on time you may be eligible to receive support from HMRC. An online payment plan for Self-Assessment tax bills can be used to set up

16 Nov 23

Tax credits top-up

The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the

16 Nov 23

Marriage allowance entitlement

The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for

Month: November 2023

The badges of trade

Income Tax – £5,000 savings zero rate band

CGT – Lettings relief

IHT – Giving away your home before you die

Autumn Statement Summary

Fuel price watchdog sharpens its teeth

£4.5bn for British manufacturing from 2025

Time to Pay tax

Tax credits top-up

Marriage allowance entitlement

Definition of R&D for tax purposes

Tax treatment of income after cessation

Tax refunds for dissolved companies

SJPR