Finance and Accounting
Unrelieved interest on residential lets
For 2020/21 and later tax years, unincorporated property businesses are only able to obtain relief for interest and finance costs on residential lets as a
July 23, 2021
Finance and Accounting
Is rent-a-room relief always worthwhile?
Rent-a-room relief aims to encourage those with spare rooms in their homes to let them out to increase the supply of furnished rental accommodation. Under
July 23, 2021
Finance and Accounting
New lower SDLT residential threshold
Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland was increased to £500,000 to help stimulate the property
July 23, 2021
Finance and Accounting
SDLT Multiple Dwellings relief
Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the ‘average value’ price (referred to as the ‘Average Value
July 23, 2021
Finance and Accounting
Limited liability partnerships
A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as there would be
July 23, 2021
Finance and Accounting
Loans to participators
Where a close company (or LLP) makes a loan (otherwise than in the ordinary course of a business) to an individual who is a participator
July 23, 2021
Finance and Accounting
Expenses and benefit returns for 2020/21
Expenses and benefits returns P11D and P11D (b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties
July 23, 2021
Finance and Accounting
Making a negligible value claim
Where assets that have become worthless, it may be possible to make a negligible value claim, allowing a loss to be realised which can be
July 23, 2021
Finance and Accounting
NIC and company directors
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
July 23, 2021
Finance and Accounting
Tax consequences of ‘illegal’ dividends
Dividends can only be declared out of a company’s available undistributed profits, and if the payments are to be legal then the correct administrative procedures
July 23, 2021