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SKY Business News

Royal London eyes£500m LV= tie-up to forge 'mutual champion'
Sat, 26 Sep 2020 12:57:00 +0100

Royal London is pursuing a takeover of its fellow financial services provider, LV=, in a deal that would create a"mutual champion"with nearly 10m customers across the UK.

Borrowing records smashed as Sunak prepares to splash more cash
Fri, 25 Sep 2020 06:06:00 +0100

The Treasury borrowed the third-highest sum for any month on record in August, according to official figures - as the chancellor prepares to unleash his latest support for the coronavirus-hit economy.

The workers most at risk of losing out as focus turns to 'viable' jobs
Fri, 25 Sep 2020 13:30:00 +0100

Rishi Sunak could not have been more stark.

Boohoo 'did not move quickly enough' on Leicester supply chain malpractice
Fri, 25 Sep 2020 08:51:00 +0100

Online fashion retailer Boohoo is facing criticism over its handling of the treatment of workers within the company's Leicester supply chain.

Kuwaiti state fund in talks to buy Rolls-Royce stake
Fri, 25 Sep 2020 13:26:00 +0100

Kuwait’s sovereign wealth fund is in talks to buy a stake in Rolls-Royce Holdings as one of Britain’s most important industrial groups scrambles to raise billions of pounds of new funding.

Personal Tax

Personal tax (income tax and capital gains tax) is arguably the most understood of all of the taxes, as most of the population pay it in a very visible way. Since the introduction of self assessment, the self employed, the employed, investors and trusts all need to understand the new rules, to minimise their overall tax exposure.

If you are selected by the Inland Revenue to fill in a self assessment personal tax return, because you are self employed, a higher rate taxpayer, a director, a property investor, or another reason, you need to make sure that this return correctly discloses all taxable income sources and claims all valid tax deductions.
Specific areas which we are typically asked to advise on include:

Disclosing and then agreeing your personal tax liability with the Inland Revenue is principally achieved by the completing and filing of a self assessment tax return..

Understanding this complicated tax system and paying the minimum amount of personal tax, at the correct time, through the correct mechanism, should satisfy our client.  We may even be able to suggest ways to restructure your affairs to save further tax.

Gorman Darby & Co Ltd
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