Tax planning

Not putting a property in joint names prior to selling is an easily avoided mistake – read our blog to see if this would benefit you.

Potential benefits of putting a property into joint names prior to sale Where a property qualifies in full for private residence relief, it is perhaps academic, from a tax perspective…

Continue Reading Not putting a property in joint names prior to selling is an easily avoided mistake – read our blog to see if this would benefit you.

Landlords – you must file your self-assessment tax return by 31 January 2020 to avoid a late filing penalty. Here’s what you need to know:

The self-assessment deadline is looming. Self-assessment tax returns for the year to 5 April 2019 must be filed online by 31 January 2020 if a late filing penalty is to…

Continue Reading Landlords – you must file your self-assessment tax return by 31 January 2020 to avoid a late filing penalty. Here’s what you need to know:

Be careful when borrowing money from your company as a director – you might fall foul of the ‘bed and breakfasting’ scenario

Directors’ loans – Beware of ‘bed and breakfasting’ It can make sense financially for directors of personal and family companies to borrow money from the company rather than from a…

Continue Reading Be careful when borrowing money from your company as a director – you might fall foul of the ‘bed and breakfasting’ scenario

The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.

Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax liability is not one that…

Continue Reading The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.

If you’ve read anything about property and tax, you’ll probably have heard the terms ‘nominating your main residence’ and ‘flipping’. This blog takes you exactly what these terms mean and how and when they apply.

Private residence relief shelters a gain on the sale of a residence from capital gains tax while the property has been the owner’s only or main residence. Where a property…

Continue Reading If you’ve read anything about property and tax, you’ll probably have heard the terms ‘nominating your main residence’ and ‘flipping’. This blog takes you exactly what these terms mean and how and when they apply.

Wondering whether to use dividends or a salary? Read this blog to find out why dividends are more cost-effective.

Director’s salary or bonus? Given current tax rates, paying a dividend rather than a salary will often be a more cost-effective way of withdrawing profits from a company. Tax is…

Continue Reading Wondering whether to use dividends or a salary? Read this blog to find out why dividends are more cost-effective.

Even if your business hasn’t reached the £85,000 turnover threshold, there are some benefits to registering for VAT early.

VAT registration – sooner or later? Once a business is up and running, the next major administrative area to be faced often concerns the subject of VAT. At first glance,…

Continue Reading Even if your business hasn’t reached the £85,000 turnover threshold, there are some benefits to registering for VAT early.