Fuller Spurling’s Spring 2020 tax briefing is now available, with guidance and information on the following… Capital Gains Tax (CGT) – pay in 30 days! IR35 off-payroll working rules, 6 April 2020 New NIC thresholds announced ahead of the budget Restricted Employment Allowance, worth up to £3k per year Company accounts & returns – […]
Year End Tax Review 2019-20
Fuller Spurling’s year-end tax review. Introduction, tax law changes to come? Interest on savings – how to reduce tax you pay by controlling the type of income you receive ‘Max out your state pension’ – have you checked if you’ll qualify for the full state pension? ‘Give & save’ – how Gift Aid donations […]
What’s the current tax situation for…
Fuller Spurling’s December 2019 tax briefing is now available, with updates and information to keep you up to date with the current tax situation regarding… Capital Gains from off-plan homes following a recent Court of Appeal’s decision Changes to company-car taxable benefits Reporting of Offshore Investments Funds on your Tax Return Making tax digital (MTD) […]
Taxes and reliefs when selling a let property
Many landlords are deciding to sell their residential properties. What are their options for taxes and reliefs?
Changes to Capital Gains Tax – PPR and Lettings Relief
Important changes will come into force in April 2020 which relate to tax relief that is due on the sale of property which was previously a taxpayer’s Principle Private Residence “PPR” during any point in the period of its ownership.
Gains from off-plan purchases of your home
Most people understand that when you sell your main home the profit you make on the sale is exempt from tax
The tax exemption for homes to be clipped
When you sell your only or main home, you expect any gain you make to be free of CGT, but …
Entrepreneurs’ relief curtailed
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%.
Query about CGT investor’s relief
My client has recently sold his family company, realising a significant gain and using all of his Capital Gains (CGT) Tax Entrepreneurs’ Relief lifetime allowance in the process. Although he has stepped back from active involvement, he is considering investing a significant amount of money in a trading company and has told me he would […]
New Capital Gains Tax liability for UK non-residents
The 2013 Autumn Statement included an announcement that non-resident owners of UK residential property would become liable to capital gains tax for disposals after 5 April 2015.
Have you made a gain from the sale of a property that you did not occupy as your home?
Have you made a gain from the sale of a property that you did not occupy as your home? If so, did you report the disposal upon your Tax Return?
Options When Closing Down a Company
We sometimes get asked about how to dispose of reserves of a company when it has ceased trading – here are some options when closing down a company