Personal property income – how is this taxed between co-owners?
Date posted: 28th Apr 2022
As people are taxed individually, property income must be allocated, to each individual, in order to work out the tax that each joint owner is liable to pay….
Date posted: 28th Apr 2022
As people are taxed individually, property income must be allocated, to each individual, in order to work out the tax that each joint owner is liable to pay….
Date posted: 28th Apr 2022
If you still have not completed your 2020/21 Tax Return, then you need to be prepared for daily £10 penalties to apply for each day that the Tax…
Date posted: 24th Mar 2022
The Chancellor revealed his Spring Statement on the 23rd March, where he sought to ease the impact of rising prices for households and businesses. As expected, there were…
Date posted: 17th Mar 2022
If you have previously not claimed full tax relief for say gift aid donations or pension contributions, then in most circumstances, you have four years to make a…
Date posted: 17th Mar 2022
If you operate your business through a company and extract profits in the form of dividends, it is prudent to review your dividend policy to determine whether it…
Date posted: 17th Mar 2022
The Annual Tax on Enveloped Dwellings (ATED) is a tax on high-value residential properties that are held within ‘an envelope’, such as company or a partnership with at…
Date posted: 17th Mar 2022
One of the sectors hit most by COVID-19, was the travel and tourism sector. In particular, Furnished Holiday Let (FHL) businesses were required to shut for a large…
Date posted: 17th Mar 2022
As we advised in October 2021, those individuals that renew licences to drive taxis and private hire vehicles or to deal in scrap metal, will be subject to…
Date posted: 17th Mar 2022
Capital allowances essentially provide tax relief on the acquisition of equipment such as motor vehicles, vans, trucks, machines, computers and so forth. At the moment, the “super deduction”…
Date posted: 15th Mar 2022
The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that only about 25% of families eligible for the scheme had…
