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Maximising the benefit of gift aid
Gift aid can provide a valuable tax break for higher or additional rate taxpayers. With coronavirus affecting many of them, what additional points should people be looking out for in the wake of the coronavirus
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Reminder for companies to include grants on returns
HMRC has published new guidance to companies about the taxation and reporting of coronavirus support payments. What steps should companies take to ensure that the tax return is correct?
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Avoiding legal issues when planning profit extraction
Directors often have misconceptions regarding their remuneration. This can sometimes have serious consequences. What does a recent High Court decision underline the importance of understanding when taking money out of a company?
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Making joint income tax efficient
In some situations married couples and civil partners can elect how they split their joint income for tax purposes. It’s a useful tax-planning tool, but the drawback is that once made an election can’t be revoked. Is there a way around this?
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New CGT deadline for separating couples
The government is to change the law to correct one of the great tax injustices. The overdue reform will reduce the pressure on separating couples to settle ownership of their asset quickly or face a capital gains tax (CGT) bill. What’s the full story?
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Tax relief for a SIM-only deal
The last few years has seen an increase in people opting to buy their mobile phones outright and take a SIM-only contract for calls and data. How does tax relief for business use of these differ compared to an all-inclusive deal?
