People selling unwanted items online can continue to do so with confidence and without any new tax obligations, HM Revenue and Customs (HMRC) has confirmed. The reminder comes as online platforms start sharing sales data with HMRC from January 2025 - a new process that, when announced last year, generated inaccurate claims that a new tax was being…
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High Streets get welcome boost
In a recent press release issued by the Ministry of Housing, Communities and Local Government, new legal changes to empower councils to auction off leases for long-term empty lots was released. Here's what the changes will provide.High streets are set to be revitalised as the government hands councils new powers to tackle the scourge of…
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HMRC filing scam warnings
HMRC is encouraging customers to be prepared and have all the information they need ready to file their Self-Assessment tax returns early, so they can avoid any last-minute stress and know what they owe sooner. HMRC has a range of online help and support and YouTube videos to assist anyone completing their return, including first-time filers. Scams advice from HMRC. Remember to: Protectcriminals are cunning…
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Limits on Income Tax reliefs
The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced.The cap is set at the greater of 25% of income or £50,000. This limit applies to the total amount of relevant reliefs claimed in a tax year and is calculated…
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