From April 2020, the government will be changing two reliefs that provide relief on rental property (lettings relief) and on gains made in the final period of ownership (principle private residency relief) of your main residence. Lettings relief This useful relief can be claimed by individuals who have let out [...]
On occasion HMRC send out letters to individuals who they believe have received income, gains or assets from overseas. These letters are not blindly sent out, rather HMRC rely on information garnered from the Automatic Exchange of Information (AEOI). These are agreements made between certain countries’ revenue raising authorities. Another [...]
If you’re looking to purchase your first property, with a Help to Buy: ISA you could get a £3000 bonus from the government to put towards the purchase. But you better act quickly as you haven’t got long left as on the 30th November 2019 the Help to Buy: ISA [...]
A cash mountain is referred to as a build-up of cash that a company has at its disposal but which it leaves in its bank account as a cash balance. The main reason why company shareholders decide to do this is to avoid paying income tax on dividend payments. Having [...]
If you own a UK based property through a limited company, you may have to file an ATED return and pay an ATED charge. The deadline for doing this is incredibly short, and if you miss it, you may face paying penalty charges and interest on what is owed. What [...]
If you use Xero to manage your business’ accounts, we’re sure you’re already impressed by its ease of use and reliability. But, are you aware there are hundreds of apps and plugins available which can help automate your workflow even further and possibly save you money in the long-run? Our [...]
Year-end planning is something every business (no matter the size) should be doing. It helps put into place strategies for organising your finances that enable you to work as tax efficiently as possible in the run-up to the end of your accounting year. You may be doing this already, which [...]
HMRC’s ‘let property campaign’ is one of a number of high profile campaigns designed to help enable people who have fallen behind in their tax affairs to bring themselves up to date. What does the Let Property Campaign mean for you? This could mean declaring previously undisclosed income via a [...]
Google is the biggest player on the internet. Not only does it own the biggest search engine, it also offers one of the best platforms for online advertising. If you’re not sure what PPC is, it stands for Pay Per Click advertising. These are the adverts that you see at [...]
