An income tax charge will generally arise where an employee, or a family member, is able to use a work’s van for private use. This will nearly always include home-to-work travel. From 6 April 2020, the flat-rate van benefit charge crept up once again and currently stands at £3,490 (rising from £3,430 in 2019/20), which

Selling at property at below the probate value The property market is often volatile but throw a Coronavirus pandemic and a stamp duty holiday into the mix and it is easy to see how property prices can vary dramatically, even in a relatively short period. Where a deceased’s estate includes land, inheritance tax is computed

More than one home – Which one qualifies for private residence relief Private residence relief removes the charge to capital gains tax on the taxpayer’s only or main residence. For the purposes of the relief, a taxpayer can generally only have one residence qualifying for the relief at any one time, subject to the final

Beware tax scams HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year. HMRC have also called on people to stay vigilant to avoid falling for tax

TAX-EFFICIENT SAVINGS FOR ALL THE FAMILY Although interest rates remain low, there are still various tax-efficient savings incentives available which may help maximise potential returns. This article summarises some of these schemes. Help-to-save The Help-to-save scheme offers working people on low incomes a 50% bonus, rewarding savers with 50p for every £1 saved. Over four