Changes to the rules on capitals gains came into effect this year, with the tax on UK residential property to be reported and paid to HMRC within 30 days. This meant from 6 April 2020, anyone making a taxable gain from the sale of an additional...
Like many in the current climate, businesses are planning our their cashflow and trying to consider the changes we have had this year, with the addition of schemes like furlough, grants and loans will provide some much-needed support, it may be the right time to be...
This month the Insider newsletter provides a summary of the following: VAT Registered traders urged to prepare for life after Brexit. Furlough scheme extents UK-wide until end of March Government body urges Capital Gains Tax overhaul Self-employed fear tax returns may affect fourth SEISS claim. Our full report can be...
For those in the property industry, they will know that having multiple properties is a good investment, but need more advice on the tax side. Main Residence Flipping may then be a area to look into as it has been a popular strategy for reducing tax. Our...
Amongst talks last year regarding the Budget speech of 2020, a lot of focus was on what we knew as entrepreneurs’ relief, designed to be an incentive for entrepreneurs' to start a new business. The name may have changed over recent months, but the details of the...
This month the Insider newsletter provides a summary of the following: Group slams latest Taxable Grants for the Self-Employed Improved Job Support Scheme opens for Employers Sunak hints at Spring Tax hike to 'balance the books' Three in five Bounce-back Loans may never be repaid, Watchdog claims Our full report...
The details have been fairly limited so far and will be updated over the coming days, but this is what we know so far:FURLOUGH SCHEME EXTENSION:The Coronavirus Job Retention Scheme or ‘Furlough’, as it has come to be known, will be extended for another month...
If you are in the process of moving home or planning to in the second half of 2020/21, then there may be some changes to the tax system to consider, such as the recent cut to stamp duty land tax announced in July 2020. Our...
Property investment has always been a source of a steady income and a wise choice for those thinking of their future and saving for their retirement, however it may be a tricky route to take due to the changes to income relief and thinking of...
This month the Insider newsletter provides a summary of the following: Commission set to recommend National Living Wage Freeze Chancellor reveals new support measures amid Second-Wave fears Tax Group calls for extension to the Annual Investment allowance Fraudulent furlough claims or those paid in error cost £3.5bn Our full report...