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Spring is around the corner, and this will probably be the most welcome Spring in recent history. Hopefully we are going to return to unrestricted socializing and celebrating in the very near future.
Spring is around the corner, and this will probably be the most welcome Spring in recent history. Hopefully we are going to return to unrestricted socializing and celebrating in the very near future.
Tax Tips Q&A is back for 2022! This month we will be answering questions all about tax returns and self-assessments.
In this post, we look at the tax liabilities directors may have in relation to the company they work for.
As a trader in property, the land or properties you buy for development and/or resale are your trading stock or work-in-progress. In this post, we look at how to make the most of your property development by learning the most tax efficient way to handle your trading stock.
In part 2 of tax tips for trading in property, we will be covering why you might run your property through a limited company, property accounts and records, and the Construction Industry Scheme otherwise known as the CIS.
The whole purpose of tax planning is to save you tax and to put more profits in your pocket. That is why people are always looking at ways of beating the taxman, because they benefit from tax planning.
Unincorporated landlords have been hit hard by a number of tax changes in recent years, including the gradual restriction in tax relief for mortgage and finance costs, such that relief is now only available as a tax reduction given at the basic rate. As this restriction does not apply to companies, a natural question is […]
This month’s tax Q&A answers more tax questions. These questions will focus on how to handle different types of losses incurred by property investment.
“Tax planning” means arranging your business affairs so that you pay the minimum amount of tax that the law requires. It does not mean trying to conceal things from the Taxman, and it does not mean indulging in highly complex (and expensive!) artificial “tax avoidance” schemes.
If you buy a property with the intention of selling it on at a profit in the short term, then even if you receive some rental income from it while you own it, you are trading and your profit from selling the property will be charged to Income Tax – and to National Insurance Contributions […]
If you decide to let a room in your main residence, you can receive a rental income of up to £7,500 and have no tax liability.1
We’re back to answer more tax questions and help you figure out what tax reliefs you can take advantage of. This week we’ll be answering questions on property renovations, more specifically what tax reliefs are available when selling a property that has had renovation work.
According to the law, landlords must conduct gas safety checks on their homes by a gas safe registered engineer. All of your house flues, gas heaters, stoves, and pipes have to be inspected every year so that the safety of your tenants is assured.
In this post we will look at “Reinvestment Relief”. Numerous questions are asked about this relief and we will try to get to grips with the most common scenarios when this relief may be considered.
