Capital Gains Tax changes impact on property investors In July 2020 the chancellor Rishi Sunak wrote to the office of tax simplification asking them to do a review on Capital Gains Tax (CGT). The consensus amongst property and tax experts is that CGT is likely to increase in 2021. This article will look specifically at […]Read More
Property Investors Tax Update Rishi Sunak’s summer statement has great news for property investors tax. SDLT on residential property up to £500,000 in value will be scrapped till 31st March 2021. Residential Rates on Purchases from 8 July 2020 to 31 March 2021 You will only start to pay SDLT on residential property you purchase […]Read More
Coronavirus Business Interruption Scheme Coronavirus business interruption scheme summary:- you can get further information here. 1. Loan from £25,001 to £5m 2. Terms from 1-6yr 3. No interest for 12mths 4. Capital repayment holiday for 12mths, so some businesses wont have to pay anything for 12mths. 5. Loans limited to 25% of 2019 turnover or […]Read More
Major change in capital gains tax rules for landlords On 6th April 2020 capital gains tax rules change and landlords will now have just 30 days to pay any capital gains tax due. Prior to 6th April 2020 if you sold a property on 1st May 2019, you wouldn’t have to pay the capital gains […]Read More
The Value of Management Accounts The value of Management accounts is often something that small business owners don’t understand and therefore don’t implement. Most small business owners are only interested in submitting their end of year accounts so that they can pay taxes. A definition of management accounts can be found at the business dictionary […]Read More
HMRC Credit Card Changes As of 31st January 2018 HMRC credit card changes come into effect. That means you can no longer use your credit card to pay for income tax, NI or VAT. However, debit cards and corporate credit cards will still be accepted. HMRC credit card changes have likely come into effect due […]Read More
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