Posted in Overseas tax issues
The Non-resident landlord (NRL) scheme is a special scheme for the UK rental income of non-resident landlords. This includes companies or trustees whose ‘usual place of abode’ is outside the UK. HMRC classifies a person living abroad for 6 months or
Continue readingPosted in Inheritance Tax
Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. These gifts or transfers achieve their potential of becoming exempt if the
Continue readingPosted in Payroll
The deadline for employers to provide employees with a copy of their P60 form is by 31 May 2018. A P60 must be given to all employees that were on the payroll on the last day of the tax year – 5 April 2018.
The P60 is a statement issued to employees
Posted in HMRC Notices
Employees who use their own money to buy things they need for their job, can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for work.
There is no tax relief