You may be a sole trader, a partnership or run your business through your personal limited company, whatever vehicle is used to run your business there will be a time when you want to take it a little easier or stop all together and at that time having a clear plan in place well in advance will help secure the right tax reliefs for the assets you dispose of.
Selling or giving away personal belongings can sometimes have tax consequences. When disposing of personal belongings, you should be aware of Capital Gains Tax (CGT) which is a tax on the increase in value of a belonging.
As we get older it is natural to want to help the younger generations with a financial gift, however here are some things to be aware of if making gifts.
The introduction of MTD is the perfect opportunity to completely transform and revolutionise the way you do business and the way you maintain your accounting records. To book a free MTD compliance review, or to find out more, contact Rob Holt or Sara Martin on 01332 242257
If you have a number of properties and the portfolio is run as a business this may well be a sound idea, however, a 3% Annual Tax on Enveloped Dwellings (ATED) will be charged in addition to the usual tax on profits in certain circumstances.
As employers now have a duty to make pension contributions for their employees it may be worth employees considering salary sacrifice to make their contributions to the pension.
The Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.
His report set out a number of actions the government will take including support for more housebuilding. His view is that the economy continues to grow and continues to create more jobs.The major attention-grabber was aimed at first time buyers who will not have to pay Stamp Duty Land Tax on homes costing up to £300,000.
Read the latest issue of our Pay Less Tax Newsletter – Autumn 2017 Edition
HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2017.
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2017, are due for submission to HMRC by 6 July 2017.