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What is a Wasting Chattel?

What is a Wasting Chattel?

Chattels Certain assets such as plant, watches and paintings valued below £6,000 are exempt from capital gains tax but there are some restrictions, explains Chris Thorpe, technical officer at CIOTWithin the Taxation of Chargeable Gains Act 1992 (TCGA 1992) are listed...
When is Corporation tax Due?

When is Corporation tax Due?

Corporation Tax The Corporation Tax deadline is 9 months and 1 day after a registered companies year end.All businesses registered at companies House have to record their income and profits, and company accounts, as well as a tax return and a confirmation statement....
Married Couples Allowance

Married Couples Allowance

Will you marry me? Many years ago married couples would be able to share their personal tax allowance, so that if only one of them is working, then they would not lose out as a household. This was stopped some time ago – one criteria was at least one partner in the...
Not allowed to Fly – So a chance to save some Tax

Not allowed to Fly – So a chance to save some Tax

General Aviation ‘leisure’ Flying As you may be aware, there has been no General Aviation ‘leisure’ Flying since many areas went into Tier 4 in November, and for everywhere else since full Lockdown again in December. I know many people like me are feeling grounded, so...