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Using Lifetime ISA Funds for your first home

Using Lifetime ISA Funds for your first home

You must be a first-time buyer to put the Lifetime ISA towards your first home. A first-time buyer is someone who does not own, and has never owned, a home anywhere in the UK or the rest of the world. To be able to be eligible for the government bonus, you must have...
Tax benefits on Investments

Tax benefits on Investments

Published On August 9, 2023Government support includes the enterprise investment scheme (EIS) and its sibling, the seed enterprise investment scheme (SEIS) – venture capital schemes designed to encourage, by means of attractive tax reliefs, shareholding investment in...
Claiming tax relief for employment expenses

Claiming tax relief for employment expenses

Claiming tax relief for employment expenses It is always a question of understanding when relief is available and, if it is, how the relief can be claimed. The General Rule Deduction is allowed from earnings for an expense if the employee is obliged to incur and pay...
Dividend Tax Traps

Dividend Tax Traps

Paying dividends to close family members: Tax traps In a family company scenario, it can be tax-efficient to make salary and dividend payments to family members to utilise their unused allowances and lower-rate tax bands. However, when it comes to paying dividends,...
Annual Tax on Enveloped Dwellings

Annual Tax on Enveloped Dwellings

Concept Of ATED  Annual Tax on Enveloped Dwellings (ATED) is payable by companies owning residential properties valued at more than £500,000. ATED return needs to be filed if your property: Is a dwelling. Is in the UK. Valued more than £500,000. Is owned completely or...
VAT Investigation process by HMRC

VAT Investigation process by HMRC

VAT: An inspector calls! A business will have a visit from a VAT inspector for one of two reasons; a routine visit after selection by the HMRC computer based on the type of business and the level of turnover, or if the business has an unexpectedly large VAT repayment....