Maximise Profits, Minimise Taxes and Gain Invaluable Business Insights
The UK’s changing Capital Gains Tax regime has had a profound effect on business owners over the years, influencing their decisions on investing, holding, or selling assets. Since it was first introduced by a Labour Government in the 1970s, there have been a total of ten changes to Capital Gains Tax rates and reliefs which […]
Did the Chancellor make you rethink your future? Read More »
The recent Budget introduced significant changes to Capital Gains Tax (CGT) rates, affecting individuals, business owners, and shareholders alike. These changes are crucial for those planning to dispose of assets or sell a business, as they could significantly impact your tax liabilities. Overview of the Main CGT Changes Effective immediately: Main CGT Rates: The tax rate
Recent Changes to Capital Gains Tax (CGT): What You Need to Know Read More »
In the recent Autumn Budget, Chancellor Rachel Reeves announced an immediate stamp duty hike impacting landlords and homeowners purchasing additional properties. What is Stamp Duty Land Tax (SDLT)? Stamp Duty Land Tax (SDLT) is a tax applied in England and Northern Ireland when you purchase property or land above a certain price. It is typically
Autumn Budget 2024: Key Changes to Stamp Duty Land Tax (SDLT) Read More »
In the Autumn Budget 2024, the government has announced a raft of changes that will affect the provision of company vehicles. Following a recent Court of Appeal judgement, the government will change how double cab pick-up vehicles (DCPUs) with a payload of one tonne or more are classified for tax purposes. Starting from: DCPUs will
New Tax Rules for Double Cab Pick-Up Vehicles (DCPUs) Read More »
For many business owners, the day will come when they need to consider selling their business. Whether it’s to retire, pursue new ventures, or pass the reins to someone else, selling a business can be a complex and challenging process. What many owners don’t realise is that up to 95% of businesses fail to sell.
The Importance of Exit Planning: Why Every Business Owner Should Prepare Early Read More »
Life is full of surprises, and not all of them are pleasant. In a world where uncertainty is a constant companion, individuals and families are increasingly seeking ways to secure their financial future. One such avenue that has gained prominence is relevant life insurance, a unique policy that not only offers protection but also comes
Understanding Life Insurance: A Comprehensive Guide to Protecting Your Future Read More »
MTDITSA is coming! But what is it? Who will it affect? When is it happening? Below you will find answers to these pressing questions, providing some insight into what will soon become a mandatory HMRC requirement. What is MTDITSA? Making Tax digital for Income Tax Self-Assessment is a new way of reporting income and expenses
Making Tax Digital for Income Tax Self-Assessment (MTDITSA) Read More »
Key Points: Threshold Raised from £50,000 to £60,000 Prior to change, complete withdrawal of benefit if income exceeded £60,000. Post Spring Budget ‘24, complete withdrawal of benefit if income exceeds £80,000. Can only claim backdated Child Benefit for up-to 3 months If you’re entitled to the benefit and haven’t already – Claim! What is the
High Income Child Benefit Charge: Everything you need to know Read More »
ATED is a tax that applies to high value residential properties held in certain corporate structures, such as companies. The purpose of ATED is to discourage the use of corporate structures to avoid other property related taxes. ATED Key Points Explained Applicability. ATED applies to dwellings (typically residential properties) valued over £500,000, that are owned
Demystifying Annual Tax on Enveloped Dwellings (ATED): Your Comprehensive Guide Read More »
Following the 2024 Spring Budget, Chancellor Jeremy Hunt has announced a raft of changes coming into effect from April 2025 for Furnished Holiday Lets. We’ll take a look below at the changes and how they’ll affect current FHL owners, or those looking to purchase a holiday buy-to-let property. 1. Capital Allowances: One of the primary
Spring Budget 2024: Implications for Furnished Holiday Let Owners Read More »