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Taxation
of the Family |
| Married
couples are subject to a system of independent taxation
under which husbands and wives are taxed separately.
This can give rise to valuable tax planning
opportunities. Furthermore, the tax position of any
children is important. Topics covered: income tax
allowances, capital gains tax, inheritance tax, child
tax credit. |
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Charitable
Giving |
If you are
thinking of making a gift to charity, this factsheet
summarises how to make tax-effective gifts. You can get
tax relief on gifts to UK charities if you give: under
Gift Aid, through a Payroll Giving scheme, run by your
employer, or by making a gift of shares or land.
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Child Tax
Credit |
| In April
2003 the Child Tax Credit and Working Tax Credit
started. This factsheet explains whether you or your
spouse/partner are entitled to the Child Tax Credit and
the childcare element of the Working Tax Credit.
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Enterprise Investment Scheme |
| The purpose
of the Enterprise Investment Scheme (EIS) is to help
certain types of small higher-risk unquoted trading
companies to raise capital. It does so by providing
income tax and CGT reliefs for investors in qualifying
shares in these companies. |
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Venture
Capital Trusts |
| Venture
Capital Trusts (VCTs) are complementary to the
Enterprise Investment Scheme (EIS), in that both are
designed to encourage private individuals to invest in
smaller high-risk unquoted trading companies affected by
the equity gap. |
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Property
Investment - Tax Aspects |
| Investment
in property has been and continues to be a popular form
of investment by many people. This factsheet summarises
the main tax issues. |
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Individual Savings Accounts |
| Successive
governments, concerned at the relatively low level of
savings in the UK economy have over the years introduced
various means by which individuals can save through a
tax-free environment. Individual Savings Accounts (ISAs)
were introduced in April 1999. |
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Buy to Let
Properties |
| In recent
years, the stock market has not proved to be a
successful investment. Add to this the serious loss of
public confidence in pension funds as a means of saving
for the future and it is not surprising that investors
have looked elsewhere. This has resulted in a massive
expansion in the buy to let sector. |
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Personal Tax - an Introduction to Self Assessment
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Self assessment was introduced for
individuals for the 1996/97 tax year onwards. It
represented a fundamental shift in the responsibilities
of taxpayers in the submission of tax returns. Under the
self assessment regime an individual is responsible for
ensuring that their tax liability is calculated and any
tax owing is paid on time. |
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