When dividends cannot be paid
There is a basic principle that dividends or other distributions must not be paid out of capital even if the Articles of a company authorise such a payment. For the purposes of this article, reference to distributions
Definition of living together
There are many tax reliefs available to married couples or civil partners. In many cases, these reliefs are only available if the couple / civil partners meet the legal definition of living together.
This definition of
Let Property Campaign
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities
Child benefit for 16 to 19 year olds
The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is £16.95.
Taxpayers entitled to the child benefit should be aware that HMRC usually stop
Taxable and non-taxable State Benefits
Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free.
HMRC’s guidance provides the following list of the most common state benefits that
When you cannot use the Property or Trading Allowances
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each.
The £1,000 exemptions