The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Advice that you give to your client may fall under the category of regulated investment advice, in which case you must not give advice unless you are suitably qualified and authorised to do so.
On 19 December 2012 the Financial Services Act 2012 received Royal Assent and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority.
Specifically, FSA 2012 gave the Bank of England responsib
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From 6 April 2015, an individual can elect to transfer 10% of the personal allowance (£1,250 in 2020/21 and 2019/20) to the spouse or civil partner where neither party is a higher rate or additional rate taxpayer. The legislation calls this the ‘transferable tax allowance’ but the GOV.UK website
Time for paymentTwo statutory rules apply on death:•tax is ‘due’ six months after the end of the month of death and carries interest from the ‘due’ date until paidThere is a possibility of payment by instalments, but this applies to certain types of property only ― see the ‘Availability of
IntroductionUK resident individuals who are non-UK domiciled can benefit from the remittance basis of taxation. The remittance basis allows for relief from UK taxation for non-UK sources of income which are not brought in (or remitted) to the UK. A remittance is any money or other property which is,
Why is this important?Tax-free amountEach individual, whether or not they are resident in the UK, is entitled to an annual exempt amount when calculating the taxable amount of their chargeable gains for the tax year (although see the exceptions below). The annual exempt amount is also known as the
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