Who doesn’t want something tax free? Individual Saving Accounts (ISAs) offer you exactly that: a chance to earn interest on your savings free of tax, even if you’re a higher rate taxpayer. But few people take full advantage of what ISAs can really offer.

So you’re the subject of a tax inquiry. Suddenly those folks at HMRC who hitherto have been almost impossible to get hold of, are breathing down your neck and showing a vigour and enthusiasm about your affairs that’s making you very uncomfortable. But a ‘tax inquiry’ can’t be too bad, you think to yourself as you slide the letter to the bottom of the “to do” pile and get on with more pressing business.

What do you do next?

The brown envelope is sitting on your desk and the letter inside has just informed you that you’re the subject of an HMRC tax inquiry. The chances are the bottom may have just fallen out of your stomach and you may be tempted by all sorts of reactions which may or may not include run, hide, falsify or ignore.

With ever-increasing car road tax rates and the squeeze on diesel, you could be forgiven for thinking the government hates cars. And with what feels like an increasingly complex company car tax regime, it’s not always easy to weigh up your best company motoring options.

Entrepreneurs’ relief is available to sole traders or partners selling or giving away all or part of their business. It is a capital gains relief and is also available to company directors and employees having 5% or more shareholding. If you are eligible for ER, you’ll pay tax at 10% on all gains on qualifying assets.

Inheritance Tax planning is often something which people put off. However, it’s important to understand the tax allowances and reliefs for Inheritance Tax purposes in order to take advantage of:

In our last post, we looked at the essentials of the new MTD for VAT regime, so in this post, we’re going to take a closer look at the provisions for keeping digital records.

Making Tax Digital (MTD) is a government initiative to modernise HMRC’s tax system, with the aim of making the whole process of administrating tax simpler and more efficient.

When you sell your home, you might reasonably expect to pay no Capital Gains Tax (“CGT”) on the disposal due to  Principal Private Residence (“PPR”) Relief.  And for most homeowners selling their home, that must be right as the PPR relief will exempt any gain from CGT if: