by Neil Da Costa | Nov 8, 2022 | Uncategorized
One of the areas due to be examined in the December 2022 Advanced Tax exam is Personal Service Companies. Many freelancers invoice their end clients through their companies and benefit from the lower rates on dividends compared to salaries. IR35 holds PSCs responsible...
by Neil Da Costa | Nov 8, 2022 | Uncategorized
Some good news! One of the tax cuts introduced by Kwasi which was NOT reversed was the 1.25 % cut to national insurance which takes effect from November 6th, 2022. Paying national insurance gives you a state pension, maternity pay, statutory sick pay, and redundancy...
by Neil Da Costa | Nov 3, 2022 | Uncategorized
One aspect many tax students neglect is the IHT death estate. You need to put all assets into the death estate and deduct any agricultural property relief on farms (100%) and business property relief (100%) on unquoted shares. With the main residence, any repayment or...
by Neil Da Costa | Nov 3, 2022 | Uncategorized
An important area in the tax exams is sole trader losses. These losses can be offset against the total income of either the current or previous tax years. The claim cannot be restricted and usually results in the loss of the personal allowance. After offsetting the...
by Neil Da Costa | Nov 2, 2022 | Uncategorized
Congratulations Andy for passing Advanced Tax first time!It was a breath of fresh air teaching Andy Advanced Tax as he always made jokes and did not take himself too seriously.If you look at your birth certificate, you will see that it does not say life is easy. We...
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