Jan 2023 – CNFP Strengthens Team with Multiple Senior Promotions

As part of the ongoing development of the firm, Clarke Nicklin Financial Planning have made some significant changes to the team. Christian Evans who has been managing the CNFP team for over 10 years has now moved into the role of Director for the business ...

Nov 2022 – Declare your state pension correctly

HMRC urges you to declare accurately every figure on your tax return, but the Department for Work and Pensions (DWP), which pays state retirement pensions, doesn’t make this easy. Payers of occupational pensions issue a P60 certificate every year to show exactly what amount of ...

Oct 2022 – New Graduate Trainee for CNFP

Clarke Nicklin Financial Planning is delighted to welcome new graduate trainee Amelia Herbert to the team. Amelia joins the team straight from college, with a level 3 in financial studies and is looking to progress her career further in financial services. Amelia Commented, "I’m very ...

June 2022 – Registering foreign owned properties

Owning UK property through overseas entities is about to become a far more transparent affair. Companies, trusts, partnerships and similar entities, which own UK property and are governed by the law of a country outside of the UK, will soon have to register with Companies ...

Apr 2022 – Declaring Your Gain Correctly

Declaring your gain correctly Capital Gains Tax (CGT) will generally be due when you sell a second home or investment property. When you sell or transfer a UK residential property, you must declare any gain through your UK Property Account. This report must be made, ...

Apr 2022 – Maximising Tax Relief on Company Pension Contributions

Maximising tax relief on company pension contributions Employer pension contributions are very tax-efficient. They will become even more so from April 2023, when corporation tax (CT) is increasing for companies with profits exceeding £50,000 to a minimum of 25%. Company pension contributions are free of ...

Mar 2022 – Tax Free Rent

Tax-free rent When you let rooms in your own home as residential accommodation, you can receive the rent tax-free if it falls within the limits for rent-a-room relief. This relief is currently capped at rents of £7,500 per year. Where more than one person receives ...

Mar 2022 – Let Properties

Let properties Individual landlords of residential properties can no longer deduct interest or finance costs from their rental income for tax purposes. In place of the blocked interest the landlord receives a 20% tax credit to set against their income tax bill. This restriction of ...

Mar 2022 – Give and Save

Give and save Giving to charity under Gift Aid can result in a lower tax bill for the donor. Making a Gift Aid donation will reduce your tax bill for the year in which the donation is made if your total income is above the ...

Mar 2022 – Reducing CGT Bills

Reducing CGT bills Everyone has an annual exemption for capital gains tax (CGT) of £12,300 for 2021/22. This is wasted if you don’t make capital gains in the tax year. You can’t carry forward any unused exemption to a different tax year or transfer the ...

Feb 2022 – Risk With Tax Breaks As A Reward

Risk with tax breaks as a reward The Government encourages individuals to make high-risk investments in small trading companies or charities by providing income tax relief for investors in the following schemes (limits for 2021/22): • Social Investment Tax Relief (SITR): 30% relief on up ...

Feb 2022 – Tight CGT Reporting Deadline for Residences

Tight capital gains tax reporting deadline for residences Contrary to popular belief, the profit you make when you sell your home, or a former home, is not automatically exempt from CGT. This tax exemption applies to gains that relate to periods in which you lived ...