There was much eagerness amongst business owners to see the outcome of the first Rishi Sunak budget and how it would impact both their businesses and the finances of themselves and their families. For the last few months, rumours have been circulating the internet including radical changes to Entrepreneurs Relief, [...]
From April 2020, the government will be changing two reliefs that provide relief on rental property (lettings relief) and on gains made in the final period of ownership (principle private residency relief) of your main residence. Lettings relief This useful relief can be claimed by individuals who have let out [...]
On occasion HMRC send out letters to individuals who they believe have received income, gains or assets from overseas. These letters are not blindly sent out, rather HMRC rely on information garnered from the Automatic Exchange of Information (AEOI). These are agreements made between certain countries’ revenue raising authorities. Another [...]
The internet age has given us many things – mostly good – but as with all things it has its dark side and has created some opportunities for the more unscrupulous amongst us. I am sure many of us have examples of receiving phishing emails and dodgy calls from scammers [...]
Anyone who has rental property or works in tax will know about the relatively recent changes HMRC have made to how landlords are allowed to claim the interest on their mortgages. See below: % of Mortgage Interest can be deducted from profits % available as a basic rate deduction Prior [...]
You may have seen in the news recently that Hargreaves Lansdown has lost in the Upper Tribunal an appeal made by HMRC against an earlier decision in Hargreaves’ favour. If you invest via Hargreaves the below will give you a bit of background to the case and how the outcome [...]
If you’re looking to purchase your first property, with a Help to Buy: ISA you could get a £3000 bonus from the government to put towards the purchase. But you better act quickly as you haven’t got long left as on the 30th November 2019 the Help to Buy: ISA [...]
There are many reasons why you may need to calculate the value of your business. Here we consider the range of methods available as well as some of the factors to consider during the process. It is important to remember throughout that valuing a business is something of an art, [...]
A cash mountain is referred to as a build-up of cash that a company has at its disposal but which it leaves in its bank account as a cash balance. The main reason why company shareholders decide to do this is to avoid paying income tax on dividend payments. Having [...]
If you own a UK based property through a limited company, you may have to file an ATED return and pay an ATED charge. The deadline for doing this is incredibly short, and if you miss it, you may face paying penalty charges and interest on what is owed. What [...]