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Is there a special time limit on AIA claims?
Business TaxUnless the annual investment allowance (AIA) applies it can take well over a decade for your business to receive tax relief for the purchase of equipment. If you overlook the AIA can you go back and claim it later?
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What is the VAT treatment of free samples?
VATYour business is keen to boost sales of goods in retail stores, so you have decided to provide free samples to your customers with retail shops, and let them hold your goods on a sale or return basis. How do you deal with VAT in these situations?
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When does dwelling ownership begin for PRR purposes?
Personal TaxThe First-tier Tribunal (FTT) recently had to decide if private residence relief (PRR) began when a couple moved into their home or when they bought the land on which it was built. This proved a surprisingly tricky question. What did the FTT decide?
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Writing off a loan to a company
Personal TaxA few years ago you lent your son's company money to help get the business off the ground. It’s now established, but it can’t afford to repay you. You decided to waive the loan but are there any tax consequences you need to be aware of?
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Increasing your tax-free capital gains
Personal TaxThe annual capital gains exemption has barely increased in recent years. But in the right circumstances and with some planning you can manufacture your own increase. How’s it done?
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Can you avoid a penalty for a one-off mistake?
Personal TaxYou can ask HMRC to suspend a penalty it would otherwise charge if a mistake made in a document, e.g. your tax return, results in an underpayment of tax. But it generally won’t grant a suspension for one-off errors. How can you change its mind?