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Einstein needed this – Latest Tax Update from Old Mill!

June 27, 2012

The hardest thing to understand in the world is the income tax.
Albert Einstein

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Charitable giving and the effect on inheritance tax

Hidden amongst the recent changes to other areas of the tax system, was a more subtle change to Inheritance Tax (IHT) legislation which became effective on all deaths after 6 April 2012…Read more

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Pasty Tax – Plans Reversed

The government has announced that it had reconsidered its proposals to apply VAT to all hot takeaway food. VAT will only be applied to food that is kept hot or marketed as hot, but not to food left to cool. So what applies for VAT and what doesn’t?…Read more

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Gift Aid Reminder

Given the governments u turn on the restriction of tax relief for Gift Aid donations here is a brief reminder…Read more

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VAT Flat Rate scheme

The VAT Flat Rate scheme provides smaller businesses with a number of options that can often create real cash savings. Benefits include…Read more

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Furnished Holiday Lets

Does your holiday home qualify as a Furnished Holiday Let (FHL) property? And if it does, what are the tax advantages?…Read more

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Equitable Life tax bonus

If you are due, or have already received, compensation in respect of the Government’s maladministration of Equitable Life pensions and policies you may be interested in the tax position of these payments…Read more

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More bogus emails to ignore

HMRC has issued a press release warning taxpayers about possible fake or “phishing” emails sent out by fraudsters. Apparently there is usually a significant increase in this activity in the lead up to the 31 July tax credits renewal deadline…Read more

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Tax Diary June/July 2012

Keeping you updated…Read more

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Contact us

If you have any questions about any of the articles please don’t hesitate to call one of our Tax Team or visit for more details.

Dorchester – 01305 268168

Exeter – 01392 214635

Melksham – 01225 701210

Shepton Mallet – 01749 343366

Yeovil – 01935 426181

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