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Giving Away The Family Home – Beware The Gifts With Reservation Rules
The family home is likely to be your most valuable asset. Consequently, when looking to reduce inheritance tax, it may seem sensible…
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High Value Residential Property Let By A Company – Does The ATED Apply?
The Annual Tax on Enveloped Dwellings (ATED) is a tax on high-value residential properties that are held within ‘an envelope’, such as…
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60-Day Window To Report Residential Property Gains
If you realise a chargeable gain on a UK residential property, you now have 60 days rather than 30 days in which…
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Employed? What The Forthcoming National Insurance Increases Will Mean For You
To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced…
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Limited Time Penalty Waivers For 2020/21 Tax Returns
To help taxpayers and advisers affected by the surge in Covid-19 cases as a result of the Omicron variant, HMRC have announced…
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Should You Pay A Dividend Before 6 April 2022?
If you operate your business through a personal or family company and extract profits in the form of dividends, it is prudent…
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Capital Gains Tax Annual Exempt Amount – Use It Or Lose It
The tax systems contains a number of allowances which enable individuals to enjoy income and gains tax-free. One of these allowances is…
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Paying Back A Director’s Loan – Beware Of The Anti-Avoidance Rules
Transactions between a director and his or her personal or family company are common and a director’s loan account is simply an…
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Completing A VAT Invoice – What Entries Are Required?
When a customer purchases an item or service from a business an invoice confirming the amount to pay should be raised either…
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Furnished Holiday Lets – Non-Compliance Of The Rules – Implications Post COVID
Of the sectors of the UK economy affected by the pandemic, it has been the travel and tourism sector that has been…
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