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Blog: Personal Tax

Taxation of Cryptocurrency in the UK: Upcoming Changes and What You Need to Know

Cryptocurrency has quickly evolved from a niche interest to a mainstream financial asset.

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Careful planning required around new Inheritance Tax rules

As you may already be aware, the Chancellor announced significant changes in the Autumn Budget to the availability of Business Property Relief and Agricultural Property Relief for Inheritance Tax purposes.

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Cryptoassets and Capital Gains Tax: What You Need to Know

Traders who have sold or exchanged cryptocurrency may be required to pay Capital Gains Tax (CGT), HM Revenue & Customs (HMRC) has warned. It comes after the tax authority wrote to holders of cryptoassets, such as Bitcoin, reminding them of their legal obligations. According to the letter, you must pay CGT if your total gains

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Personal Tax: Thousands of Parents “Missing Out” on Tax-Free Childcare

HM Revenue & Customs (HMRC) has reminded parents that they may be eligible for Tax-Free Childcare ahead of the new academic year. The tax authority said thousands of families may be missing out on thousands of pounds in tax relief every year. If you are a working parent, here’s what you need to know. What

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Don’t Miss The Deadline For Renewing Tax Credits

Unlike other benefits, tax credits usually have to be renewed each year by 31 July to continue receiving payments from HM Revenue & Customs (HMRC). If you are claiming tax credits, it is really important to look carefully at the information you receive. Even if you have stopped getting tax credits, you still need to

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Statutory Residence Test and Covid-19: Important Changes

HMRC Statutory Residence Test and Covid-19: Important Changes

By Jenna Ideson (Personal Tax Senior) at RMT Accountants & Business Advisors Ltd The Statutory Residence Test (SRT) was introduced by HMRC and brought into effect in the Finance Act 2013 on 6 April 2013. The purpose of the test is to help determine the tax residence status of an individual within the UK tax

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Chris Moir

Tax Aspects of Property Investment

By Chris Moir, personal tax manager at RMT Accountants & Business Advisors Property investments are a popular way of creating new income streams, but wherever income arises, there are related tax implications, and it’s vital to fully understand your opportunities and liabilities before making this kind of investment. Income arising from land and buildings is

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Tax breaks for charitable giving

There are a wide range of tax reliefs available for charitable giving. However, to obtain the reliefs, make sure the charities are registered. This article considers some of the most popular reliefs available and includes details of the forthcoming changes proposed by HMRC.

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Tax Planning for yourself and your family

Planning for yourself and your family Achieving your objectives Every individual will have a variety of goals in life, which may include raising children and saving for their education, caring for and supporting ageing parents, attaining a desired standard of living for themselves and their family, and financing their retirement. As your accountants, we can

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