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Selling the garden shed?

When you are selling your home, you are likely to be selling a range of fixtures and fittings. For example:

• White goods, washing machines, fridges, cookers etc,

• Furniture,

• Carpets,

• Curtains,

• Garden equipment,

• Leisure or fitness equipment, jacuzzi etc,

• And the garden shed.

If identified in the sale contract, any value attributed to these personal assets, or...

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Evidence or assertion?

In a recent tax case, three taxpayers asserted that cleaning costs of work clothes amounted to £2,200 a year and HMRC disagreed.

The facts were compelling. Each of the appellants worked in the drainage or sewage industry and to maintain personal hygiene they washed work clothing on a daily basis. Why shouldn’t they claim for the...

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Self employed liability

If you are a sole trader, or in a basic partnership, and if your business gets into financial difficulties, any liabilities that cannot be covered by the disposal of business assets may have to settled out of personal assets.

In accountancy speak, you have unlimited liability; there is no protection for your personal assets.

You have options. 

The...

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Planning or regretting?

As we have outlined in recent posts, change is upon us and come the end of March next year, the combination of Brexit and the advent of Making Tax Digital (MTD) will change much that we have taken for granted.

Apart from the cross-border considerations (import VAT, customs duties and the like) MTD will require all...

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