What are the Capital Gains Tax (CGT) implications on divorcing?
Breaking up can be hard to do especially with no tax costs! Divorcing is complicated in itself, let alone trying to navigate your tax position. When a marriage or civil partnership ends, tax is probably the last thing that the separating couples want to think about....Key highlights from the UK Government Tax Day announcements
On 23 March 2021, the UK government held its first-ever ‘Tax Day’ whereby it published a series of tax documents and consultations. It is all a part of a move to strengthen policymaking and to help create a more “trusted, simple and modern tax system”.
5% penalty for late payment of tax waived until April 2021
Did you know that you will be liable to a 5% penalty in addition to interest charges if your tax is paid more than 30 days late?
End of year tax planning: Use your allowances before 5 April 2021
The UK tax year ends on 5 April and so February and March can provide a last-minute chance to save some tax with a bit of careful planning.
Fines and penalties for not completing your Self Assessment tax return
The 31 January Self Assessment tax return deadline is fast approaching. What are the financial implications if you miss the deadline?