A First-tier Tribunal decision sheds new light on what counts as ‘normal expenditure’ for the Inheritance Tax exemption that allows immediate relief on lifetime gifts.
Making Tax Digital is now live, but with nearly 80% of those required still unregistered at the start of April, sole traders and landlords face a scramble before the first quarterly deadline.
April brought a trio of unwelcome changes for businesses: reduced capital allowances, doubled late filing penalties and the closure of HMRC’s free corporation tax filing portal.