When you sell your only or main home, you expect any gain you make to be free of CGT, but …
When you sell a business or shares in your personal company, the gain made on that disposal will normally qualify for entrepreneurs’ relief which applies capital gains tax (CGT) at 10%.
The government wants to encourage businesses to invest in plant and equipment to help them grow their operations and operate more efficiently.
There was good news for individual taxpayers in the Budget; the personal allowance will rise from £11,850 to £12,500 on 6 April 2019.
If a residential property worth up to £500,000 is purchased by one or more first-time buyers, the first £300,000 of the purchase price is exempt from SDLT. This exemption applies for property purchases completed on and after 22 November 2017.
Where an individual works through his or her own personal company to provide services, such as IT consultancy, that company must abide by the “IR35” rules
There were rumours before the Budget that the VAT registration threshold would be reduced, but the Chancellor has committed to hold it at £85,000 until April 2022.
High street shops and restaurants feel the burden of business rates acutely, as the tax does not reduce if their profits fall.
This is our Tax Briefing on the Autumn 2018 Budget
Our App can now track accurate journeys using a powerful GPS Mileage Tracker
HMRC is writing to taxpayers who may own assets overseas or have a source of offshore income. These assets could be anything from a Jersey bank account to an overseas holiday let, or more seriously trusts or companies registered overseas
If you have acquired a new home since 1 April 2016 you should be aware of the 3% stamp duty land tax (SDLT) supplement which applies to purchases of second and additional homes