Business Property Relief (BPR) is an attractive inheritance tax (IHT) relief potentially providing 100% tax relief in respect of qualifying assets (termed ‘relevant business property‘)
Anyone who owns a property will need to carry out repairs and maintenance from time to time. Where the property is let out, the question
The Covid-19 pandemic has meant that more employees worked from home than ever before. This trend looks set to continue following the Government’s latest advice
Renting out a property at a rate below the commercial level might sound like a great idea – but it might cost you dearly if you try to seek tax relief for your expenses!
Properties not let at a commercial rent There may be a number of reasons why a property is occupied rent-free or let out at rent
This blog explains what qualifies for relief for finance costs, the limit on eligible borrowings, and how capital repayments work with a quick example.
Allowable finance costs Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the
In many cases, an LLP is likely to be more attractive to those who would have formed a partnership rather than a limited company. We explain why in today’s blog.
Weighing up LLPs A limited liability partnership (LLP) is similar to an ordinary partnership in that a number of people or limited companies join together
Generally, tax relief is available, but the rules are different if you’re a small business using the cash basis…
Tax relief on business-related loans Subject to certain conditions and restrictions, tax relief will generally be available for interest paid on loans to, or overdrafts
With holiday season in full swing, we explain the strict scenarios where you can deduct for business entertaining and gifts in calculating taxable profits.
Can we deduct entertaining expenses? The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure
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
Today’s blog covers the serious curtailment to letting relief for landlords coming April 2020 – read more here.
Curtailment of letting relief Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating.
Make sure to share this article with anyone you know who runs a family business – so they can take advantage of the many ways to lower their tax bill!
Optimising tax-free benefits in family companies Making use of statutory exemptions for certain benefits-in-kind offers an opportunity to extract funds from a family company without
Furnished holiday lettings – is it worth qualifying? When it comes to taxing rental income, not all properties are equal. Different rules apply to properties