Nunn: avoid falling foul of the taxman over property sales

The ever daunting volume of tax code leaves taxpayers confused and liable to be caught out by ever more arcane tax rules. Yvette Nunn CTA, founder of Berkeley Associates, gives a candid view of some of the more complex tax traps from compliance with non residential CGT to the risks of falling foul of the annual allowance when saving for a pension

 

2018 was a year of uncertainty and I don’t even have to mention the ‘B’ word. Brexit. if you need to ask. Businesses were forced into looking for compliant digital software for Making Tax Digital for VAT reporting, even though many leading software packages had yet to be listed as compliant by HMRC.

Many accountants and businesses were left asking whether their existing software would be compliant or not.

This affected not only businesses who had had never used software but also those already in the digital age, and it was exacerbated for those whose year-end did not fit neatly with the end of paper records on 31 March 2019.

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