Where a property is let out, there are likely to be periods when the property is empty, either between tenants or, in the case of
Where a chargeable gain arises in respect of a UK residential property, since April 2020, thegain must be reported to HMRC and a payment made
Under the current rules for determining which profits of an unincorporated business aretaxed in a particular tax year, some profits may fall to be taxed
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January2022 if a late filing penalty is to be avoided. The
Different ways of deferring CGT by selling or gifting a business asset – hold over relief, roll over relief etc.
Capital gains tax (CGT) is levied on capital gains made on the disposal (including gifts) ofmost assets. However, if the disposal is of ‘business assets’
Bed and breakfasting rules’ – Director’s loan account – borrowing, repaying and then borrowing again- ‘arrangements’
Throughout an accounting period a director will withdraw monies from the company againstthe director’s loan account (DLA), the withdrawals being satisfied usually by the taking