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Capital Gains Tax: new rules for disposal of UK land and property

The time limit to report and pay Capital Gains Tax (CGT) on UK land and residential property has doubled from 30 to 60 days. The notice comes after HM Revenue & Customs (HMRC) published new guidance on the most recent tax changes relevant to the legal profession. As part of this year’s Autumn Budget, the

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New digital export strategy to boost trade in wake of Brexit

The Government’s new digital export strategy could boost international trade by billions of pounds every year, it has been suggested. The report – published by the Board of Trade – outlines new measures and support that will help traders in the wake of Brexit. Here’s everything you need to know. How big is the UK’s

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PAYE Settlement Agreement can save time and costs

For busy small businesses, a PAYE Settlement Agreement (PSA) offers a simpler alternative to pay your employees. It allows you to make one annual payment to cover all the tax and National Insurance due on minor, irregular or impracticable expenses or benefits for your workforce. According to HM Revenue & Customs (HMRC), if you get a PSA for these items, you

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Homes price boom sparks a big rise in Inheritance Tax receipts – What can you do to save tax?

Campaigners are angry over the fact that more and more people will be drawn into paying Inheritance Tax (IHT), after a big rise in receipts. They are angry that Chancellor Rishi Sunak has frozen the IHT nil rate band and residence nil rate band at £325,000 and £175,000, respectively, until 2026, while the value of

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Prepare now for the final stage of MTD for VAT

The final stage of Making Tax Digital (MTD) for VAT is just a few short months away. From 1 April 2022, even the smallest VAT registered business will need to comply with the quarterly digital recording and reporting of VAT – including those below the £85,000 VAT threshold who are voluntarily registered. Millions of UK

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Over £2 billion invested in ‘impact’ tech companies in 2021, Digital Economy Council reveal

More than £2 billion was invested in ‘impact’ tech companies in 2021, the latest statistics have revealed. The research, published by Dealroom for the UK’s Digital Economy Council, highlights the success of startups founded to build solutions to the United Nations’ Sustainable Development Goals, such as good health and wellbeing, quality education, sanitization, innovation, and

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Automatic enrolment: new rules to protect savers from unfair fees

New rules will eliminate charges on small workplace pension pots from next year, the Government has announced. The Department for Work and Pensions (DWP) said the move will benefit hundreds of thousands of savers. According to the report, new regulations will introduce a threshold – known as de minimis – at which automatic enrolment pension

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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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How Can UK Export Finance Help my Business Trade Overseas?

With a mission to “ensure that no viable UK export fails for lack of finance or insurance”, UK Export Finance has been helping businesses trade around the world for over a century. In this blog, we’re going to learn more about what the department does, and how export finance could help your business succeed. What

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