Xmas Life Hacks

PRACTICAL CHRISTMAS CHEATS

Christmas. We all love it, right? Spending time with family, giving presents and tucking into Christmas dinner. What isn’t so great are the hours of preparation, cooking a million things at once and finally… the washing up! Well, things just got a whole lot easier, thanks to these seven super-practical Christmas cheats from eSpares. co.uk, which promise to make your festive feast a total breeze…

Roast spuds: Avoid burnt bottoms or potatoes that fall to bits by investing in a non-stick tray. The special coating allows a fuss-free process when serving scrumptious spuds. Re-useable baking paper: A ‘washing-up friendly

option’ you can use are baking sheets, and what’s more they’re reusable. That means less elbow grease is needed when it comes to cleaning up. Give me space: Sitting perfectly on the bottom of your oven, an oven base shelf can be propped up with foldable legs, allowing the heat to evenly spread to your food. Is it ready yet?: Reduce the Christmas cooking stress and cook meat to perfection with a meat thermometer. Turkey, beef, lamb, pork or chicken, it can all be done just right by inserting a thermometer into the meat and checking the temperature dial. Warming tray: Keep your seconds as warm as your firsts with a buffet server and warming tray. If you're hosting a family dinner party or cooking for everyone, a three-piece serving tray is a great addition to your Christmas dinner armoury.

Make Christmas

better this year!

by SID MADGE, www.meee.global

1. Give Knowledge: Introduce a loved one to interesting knowledge or a fun new interest. Seasonal vegetables MOOCs (Massive Open Online Courses), for example. Many are free. Here’s the nation’s favourite vegetables and their 2. Homemade presents: Why not make availability in the UK and Ireland!something? Take a minute to think what you could create that would make someone you love smile. Mushrooms, potatoes, carrots and lettuce: Available 365 days 3. Buy local: What could you buy in local stores and little gift shops? Money that is spent locally Broccoli, peppers, onions, cucumber and tomatoes: stays locally. Help keep those businesses afloat. Travel 1,119 miles min. when out of season Avocados: Travels 6,263 miles min. May to August and 3,335 miles min. September to April 4. Stick to your budget: Above all else don’t overspend. Everyone you want to buy a present for already loves you. Take a minute to breathe Mushroommiles.comand remember it’s all about love.

5. Discover Your Local Area: Instead of watching

TV after a big meal go for a walk. Discover something new about where you live.

6. Thanksgiving: If you’re with family this

Christmas, take a minute to tell each person what you appreciate about them. They do something similar during Thanksgiving in America, and it’s nice to stop and appreciate loved ones – especially after a challenging year.

Your say: A better Christmas

We asked for your views on how we can make Christmas better this year. As a continuation from page 5 (What’s Your Take?), here are more of your great suggestions…

Jude Greene-Steward

By supporting local business, you support local families too! Also, if you do use Amazon this Christmas, click Amazon Smile and choose a local Charity to support, with no extra cost.

Lindsay Harrison

Buy fewer “things” and invest in experiences and memories instead. We seem to have forgotten the real meaning of Xmas. We spend hundreds trying to outdo previous years and give presents to people that we know will go to the bin. All the while thousands of elderly people will spend it alone and thousands of children will go hungry knowing way too early that Santa doesn’t exist.

Jane Knight

Write down five people you admire and let them know that you admire them and why via a message, email or phone call. As long as it’s true, this simple exercise can change someone’s perception of themselves and give them a smile this Christmas.

All are welcome to our Annual Memorial Christmas Service - 7pm on Friday 10th December, All Saints Church, Orpington BR6 0QD

Capital Gains Tax

A guide to Capital Gains Tax

If you own assets, such as property, that you want to sell or dispose of, you could be liable for Capital Gains Tax (CGT). Craig Harman is a tax specialist and partner at Perrys Chartered Accountants. Here, he provides some answers to the most frequently asked questions about CGT. What is Capital Gains Tax?

CGT is a tax on the profit you make from an asset when you dispose of it. This includes selling it, gifting it, transferring it to somebody else, exchanging it for something else or receiving compensation for it, such as an insurance pay out. It is important to note that CGT is only payable on the ‘capital gain’ i.e. the profit and not the full amount of the sale proceeds.

Which assets are subject to Capital Gains Tax?

• Residential property – unless it is your only home or main residence and is covered by ‘private residence relief’ • Commercial property • Rental property • Shares, excluding those held in an ISA or PEP • Business assets • Personal property worth more than £6,000, excluding your car • Cryptocurrency, such as Bitcoin You will not usually pay CGT on gifts to your husband, wife, civil partner or a charity. CGT does not apply to UK government gilts, Premium Bonds or betting, lottery and pools winnings. However, there are some exceptions. If someone dies and you inherit an asset, then Inheritance Tax will usually be paid by the estate of the person who has died. However, if you decide to dispose of the asset at a later date, then CGT might apply. If you are living abroad, but own property or land in the UK, then CGT will apply on disposal. If you are a UK resident, but your assets are overseas then CGT may still apply on disposal of your overseas assets. However, there are some special rules for overseas assets. Therefore, it is worthwhile seeking professional advice to ensure you fully understand your tax position.

How is Capital Gains Tax calculated?

CGT will only apply when your total gains on an applicable asset you dispose of exceed your annual tax-free allowance - currently £12,300 for an individual or £6,150 for trusts.

Depending on the asset, you may be able to reduce the tax you pay by claiming a relevant tax relief or deducting losses on disposals of other assets. For joint disposals, you will pay CGT on your share of the gain. To work out your total taxable gains you will need to: 1. Establish the gain for each applicable asset 2. Add these gains together 3. Deduct any allowable losses The amount leftover is the amount subject to CGT. CGT rates vary depending on the type of asset you are disposing of, and your current annual income, but range from 10% to 28%.

How do I report Capital Gains Tax?

Reporting CGT depends on when you made the gain and the type of asset you are disposing of. For properties, you will need to report and pay any tax owed within 30 days of the sale. If you do not do this, you may have to pay interest and you could be fined. For all other gains, you have a choice of how and when you report the tax, but you must report it by 31 January in the tax year after you made the gain.

How do I pay my Capital Gains Tax liability?

For property, you will need to use a HMRC Capital Gains Tax on UK Property account. For all other assets, you can either report it on your next self-assessment tax return or use the ‘real time’ Capital Gains Tax service – to set this up, you will need a Government Gateway user ID and password.

If you require any assistance regarding the information mentioned in this article, please contact your local Perrys office. Orpington

01689 823175

Tunbridge Wells

01892 543900

Wrotham

01732 882488

Historic Dockyard Chatham

01634 245900

City

020 7256 9339

Mayfair

020 7408 4442