Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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self-assessment

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Sharp rise in higher rate taxpayer numbers…….

May 12, 2022Employment Tax, Income Tax, IR35, self-assessment, Self-Employed, Tax, WealthLeave a commentadmin

......and if that’s you, then advice is now more important than ever. There was once a time when paying tax at more than the basic rate made you a member of a somewhat select club.…

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A new breed of digital nomad

April 28, 2022Income Tax, self-assessment, Self-Employed, TaxLeave a commentadmin

The pandemic has freed many workers from the confines of the office, leading to the emergence of a new breed of digital nomad – people who can take their laptop, jump on a plane and…

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Can the child benefit charge be fixed?

April 16, 2022Employment Tax, High Income Child Benefit Charge, Income Tax, self-assessmentLeave a commentadmin

A critical review of how the government taxes child benefits has raised a major question mark over HMRC’s approach to collecting payments. Child benefit tax, or the High-Income Child Benefit Charge (HICBC) to use its…

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NICs boost for the self-employed

April 16, 2022National Insurance Contributions, self-assessment, Self-EmployedLeave a commentadmin

Prior to the March Spring Statement, most self-employed individuals were facing increased national insurance contribution (NIC) bills this year. However, those with profits up to and just over £28,000 will now see a fall in…

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What is a ‘reasonable excuse’ for tax penalties?

February 21, 2022Capital Gains Tax, COVID-19, Income Tax, self-assessment, Self-EmployedLeave a commentadmin

Having a reasonable excuse can be a get-out-of-jail-free card if you are charged a tax penalty. However, there is no statutory definition of the term, and what might constitute a reasonable excuse for one person…

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Don’t forget to include Covid-19 payments on self-assessment returns

January 11, 2022COVID-19, Income Tax, self-assessmentLeave a commentadmin

With the 2021 self-assessment tax return deadline on 31 January, HMRC has been busy reminding taxpayers to declare any Covid-19 grant payments they might have received. This is the first year they need to be…

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Universal Credit eligibility expands to higher rate taxpayers

December 20, 2021COVID-19, Income Tax, self-assessment, Self-Employed, TaxLeave a commentadmin

Autumn Budget reforms have created a surprising clash of benefits and income tax. The Covid-19 pandemic was the first time many people utilised Universal Credit (UC) for the first time – between February and May…

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CGT reporting and payment deadline extended

November 18, 2021Budget, Capital Gains Tax, Property, self-assessment, TaxLeave a commentadmin

I've taken a few calls recently, from a number of clients, on CGT on disposal of UK residential property, and although information on this is already in the public domain, here's a brief summary in…

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HMRC: Upper Tribunal deems child benefit discovery assessments invalid

August 24, 2021Benefits, High Income Child Benefit Charge, self-assessment, TaxLeave a commentadmin

A discovery assessment can be made by HMRC where income, which should have been assessed, has not been assessed for tax purposes. A recent decision in an Upper Tribunal case, however, found that neither child…

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Changes afoot for Basis period tax rules

August 11, 2021Income Tax, MTD, National Insurance Contributions, Pensions, self-assessment, Self-EmployedLeave a commentadmin

Although it looks like the next Budget will be pushed back to spring 2022, several tax changes are already on the cards, some more certain than others. The government’s fast progress with reform of the…

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  • Sharp rise in higher rate taxpayer numbers…….
  • A new breed of digital nomad
  • Student loan rule changes from 2023
  • Can the child benefit charge be fixed?

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This website is designed as a marketing tool for the advertisement of the services of Femi O. Ogunshakin, a director of Loftus Stowe Ltd, a company registered in England, a company (no. 7552548). Registered office: Bold Business Centre, Bold Lane, St Helens, Merseyside, WA9 4TX. VAT no. 113 8203 52. Femi Ogunshakin is a solicitor and is regulated by the Solicitors Regulation Authority (SRA) who may consider Loftus Stowe Ltd to be a 'Separate Business' for the purposes of Chapters 11 and 12 of the Solicitors Code of Conduct 2011. Neither Fęmi Ogunshakin (SRA no. 197062) nor Loftus Stowe Ltd provide legal advice or make representations that its services are those provided by bodies recognised by the SRA to provide legal services under the provisions of the Solicitors Act 1974, the Legal Services Act 2007 and the Solicitors Code of Conduct 2011. Loftus Stowe Ltd is a consultant practice of Nexa Law Limited, a company authorised and regulated by the SRA under licence number 633024. Privacy Policy
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