July 2016 Tax Tips & News | Wright Vigar

July 2016 Tax Tips & News

 In News

Welcome to July’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

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Trivial benefits

HMRC guidance on senior accounting officers

Help-to-save consultation launched

FRS 102 guidance on directors’ loans revised

July Questions and Answers

Q1: My mother died last year and left my brother and me a commercial business unit. Probate is nearly complete now. If we sell the property in the future, what are the capital gains tax implications on the sale?

Q2: I have recently registered for VAT. I am not very good when it comes to administration and I have heard that the flat rate scheme might help me. How does the scheme work?

Q3: I have a part time job and I earn about £8,000 a year. As my earnings are less than the tax-free personal allowance, can I transfer the unused amount to my husband?

July Key Tax Dates

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