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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...

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...

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...

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...

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...

What is the key difference between rollover and holdover relief? Rollover relief enables businesses to postpone paying tax on assets like buildings used in the trade as long as the sale proceeds are reinvested in replacement assets. The sale proceeds must be...

The Future Of Tax event was a joint PQ Magazine / Queen Mary event and I would like to commend the University for hosting such a professional event. From left to right, we had Makayla Coombes who offered valuable insights on actually working in tax consultancy, and...

On Wednesday, I was part of a panel on the future of tax at Queen Mary University organised jointly by PQ Magazine. I got to meet many participants who are privileged to be part of the incredible PWC Flying Start programme. These students from diverse backgrounds will...

I recently had the pleasure of interviewing Chelsea Anderson who shared a lot of useful insights and tips to help you on your Chartered Accountancy journey. Chelsea has faced challenges in her life but instead of accepting things the way they are, she has tried and...

Check out my article in The November 2022 PQ Issue