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Paying Tax on an Inheritance
Question. I inherited a small property and some shares from an aunt who died recently. Do I have to pay tax on these assets? Answer. You don’t usually pay tax on anything you inherit at the
The beginning of the end of the tax return?
Question. As a pensioner with modest income to complete on my tax return, I have just received a Simple Assessment from HMRC. I believe this replaces the need to do a tax return. Is this right?
Renting out my Spanish holiday villa and tax
Question. I live in Northern Ireland and have recently bought a holiday villa in Spain which we used for 3 weeks during the summer. Now that the kids are back at school and university I am
Using my business loss to reduce my tax bill
Question. I have a small self-employment business which has made a loss for the past 2 tax years. I am confident that it will be profitable again in the current tax year. My only other income
Don’t get burnt by summer taxes
Question. My daughter is home for the summer from university and has been working full-time in a small local business to help pay for the costs of university life. She has just received her first month’s