Do you have a relative that’s going into care? Here’s some helpful information about the #Tax rules that apply to their property. #PropertyTax #PRR
The employment allowance (EA) is a welcome and valuable benefit for many businesses as it allows them to offset up to £3,000 a year against their employer PAYE NIC liabilities. Who can claim? Most employers with a liability to pay employer (secondary) NIC are eligible to claim the Employment Allowances (EA), including sole traders, partnerships …
Make sure your business isn’t missing out on this tax relief for construction works – including conversions and renovations.
Landlords hit by recent and forthcoming tax changes may wonder if it is better to buy a rental property through a limited company, rather than holding it personally. Holding it personally Where a property is held by an individual, the property income tax rules apply. The profits of the property rental business are charged to …
Should I buy a rental property through a limited company? Read More »
A SIPP is a self-invested personal pension plan, which is available to individuals. A SIPP can be an attractive option as individuals have the opportunity to choose where their pension funds are invested rather than this decision being made by the fund manager. The range of investments that can be held within a SIPP is …
Using your car in your property rental business Landlords will often use their car for the purposes of their property rental business. Where they do so, they are able to claim a deduction for the costs that they incur. Using mileage rates Where a landlord uses their car for business purposes, the easiest way to …
In the lead up to Christmas and the end of the financial year for many businesses, some directors and employees may be fortunate enough to be thinking of a bonus. If this is the case, it might be worth reviewing things beforehand to see if there is a risk of suffering effective tax rates of …
Where an asset has been lost or destroyed or the value of the asset has become negligible, it may be possible to take advantage of an allowable loss for capital gains tax purposes. It should be noted, however, that the loss will only be an allowable loss if any gain on the disposal of the …
Buying a property to let – the importance of keeping records from day one For tax purposes, good record keeping is essential. Without complete and accurate records, it will not be possible to provide correct details of taxable income or to benefit from allowable deductions. Aside from the risk of paying more tax than is …
