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Understanding Venture Capital Trusts (VCTs) – Self Assessment

What is a Venture Capital Trust (VCT)? Thinking about VCT’s? A Venture Capital Trust, they’re like the cheerleaders of startups and small businesses – they do make the investment decisions and give you some tax perks in return. VCTs are publicly traded companies listed on the stock exchange and are subject to specific regulations, making …

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What is a P 800 refund or notice? A Concise Guide.

As taxpayers, we are all familiar with the anxiety and stress that come with the annual tax season. The process can be overwhelming, especially when we receive confusing notifications from HM Revenue and Customs (HMRC). One such notice is the P 800 tax calculation. Many taxpayers do not understand the implications of receiving this notice, …

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Essential Tax Strategies for Rental Property Owners – TaxTotal

Are you a rental property owner in the UK? Then, you’re likely already well-versed in the ins and outs of the rental market, but have you considered the tax implications of your property investments? Don’t worry – we’re here to help! In this blog post, we’ll introduce you to some tax strategies you can use …

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Tax Return for Self Assessment – What you need to know

Self assessment tax return is a way which HMRC uses to collect Income Tax, Wages, pensions, and savings are often taxed automatically. Other income (including COVID-19 grants and support payments) must be reported on a tax return by individuals and enterprises. Can I do My Own Self Assessment Tax Return? Yes, you can file your …

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