Category: Handy guides

Capital Gains ruling on your main residence

In the recent case of McHugh v HMRC (2018 UKFTT 403 TC), the First Tier Tax (FTT) Tribunal were asked to consider the question of whether private residence relief from capital gains tax (CGT) should be given in respect of any part of a three-year period of ownership that preceded the taxpayer’s occupation of the […]

Do I Care ISA?

The care fee problem is massive, it is estimated that in 2020/21 there will be a £5.5 billion funding gap in the costs of social care. This is set to rise to £12 billion by 2030. Meeting the potential huge future costs of care is therefore a massive headache for the Government and the elderly. […]

Tax Return 2018

2016/17 Self-Assessment Tax Return As we are now in a new tax year, some people will already be preparing their 2017/2018 tax return for submission to HMRC. However, others will still not have submitted their tax return for 2016/2017. These people may have already incurred a £100 penalty. However, they can avoid additional penalties if […]

National Savings & Investments closes the Children’s Bond

When National Savings & Investments (NS&I) announced the launch of their new Junior ISA, they said that the Children’s Bond would be closed to new sales from September 2017, this is disapointiung, but with the JISA and the abilty to fund Pensions for children I can only asusme the demand was not there. NS&I have now […]

LISA savers face losing their £1,000 bonus

The Lifetime ISA (LISA) which launched in April 2017 enables savers to subscribe up to £4,000 a year and receive a government bonus of 25% of the money saved every year until age 50. Anyone from 18 to 39 is able to open a LISA and the funds are accessible, penalty-free and tax-free, either at retirement from age 60, […]

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