Summary of TaxAngles Aug 2022 Edition

How to claim the IHT transferable nil rate band

For inheritance tax (IHT), there are potentially two nil rate bands available, the first being the standard band and the second being the residence nil rate band (RNRB). Spouses and civil partners can benefit from transferring the unused percentage of the nil rate band to each other, providing a useful tax planning opportunity.

Involuntary strike-off: what can you do?

Companies facing involuntary strike-off by the registrar of companies due to reasons like failure to file accounts can take steps to object to the strike-off. By providing evidence of ongoing business operations or disputing the reasons for strike-off, companies can prevent dissolution.

Capital allowances for cars

Capital allowances offer tax relief for capital expenditure, including for cars used for business purposes. Different rates apply based on CO2 emissions and whether the car is new or used, providing opportunities for businesses to optimize tax deductions.

TaxAngles- Aug 2022 Edition - Flipbook by Fleepit