Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available sellers can
Entitlement to Business asset disposal relief Read More »
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the family’s main residence. This relief from CGT is commonly known as Private Residence Relief or PRR. However,
Letting part of your home Read More »
Most small business owners are happy, from a financial point of view, if sales are in line with expectations. And there are obvious grounds for this conclusion, after all, if sales dry up there are no
Top-line, bottom-line? Read More »
If you are considering selling or buying to or from companies based outside the UK, you may well be overawed by the plethora of regulation you are required to be familiar.
As a first step, you could
Importing or exporting for the first time? Read More »
A reminder for our readers that the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase with effect from 1 April 2024.
The increase will see the NLW rate increased to
A reminder that NLW and NMW rates are increasing Read More »
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a furnished holiday letting,
Checking Furnished Holiday Let property occupancy Read More »
The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. The annual taxable turnover limit is
Eligibility for the VAT Flat Rate Scheme Read More »
Private pensions can be an efficient way to pass on wealth, but it is important to consider what, if any, tax will be payable on a private pension you inherit. The person who died will usually have
Tax on inherited private pensions Read More »
Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees such as a company car. Class 1A NICs are also due on charge on termination awards above a £30,000
What is Class 1A NIC? Read More »
The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the tax measures
Autumn Finance Bill 2023 update Read More »