Month: May 2019

Renew Tax Credit

Tax credits could go up, down or stop if there are changes in your family or work life. Must report any changes and change any circumstances to the Tax Credit Office. Make sure you have as much information as possible about the change

Continue Reading

Business Property Relief for Inheritance Tax

Business property relief (BPR) for inheritance tax (IHT) purposes is perhaps most commonly claimed in respect of an individual’s owner-managed company. The rate of BPR for the individual’s shares in an unquoted trading company is 100% in most cases. The same generally applies to a

Continue Reading

Annual Tax-Free Allowances for Property or Trading Income

The tax-free allowances you can get up to £1,000 for property or trading income from 6 April 2017. If you have both types of income, you’ll get a £1,000 allowance for each. If your gross trading or property income is below £1,000 and you’re not registered for Self-Assessment, you...

Continue Reading