TAX TIP OF THE WEEK – Transfer property to spouse?
TAX TIP OF THE WEEK – Transfer property to spouse? Could you transfer your buy to let property to your spouse to save tax? Over the past few years, landlords have been targeted by the government which has introduced more and more tax legislation on rental profits. 😩 If you are a high-rate taxpayer with […]
TAX TIP OF THE WEEK – BADR relief scheme
TAX TIP OF THE WEEK – BADR relief scheme You have made a healthy capital gain from the sale of assets when your business has closed. The problem is its going to take time to sell the property which could effect the tax relief. When you sell your business HMRC will want a chunk of […]
TAX TIP OF THE WEEK – Cycle to work scheme
TAX TIP OF THE WEEK – Cycle to work scheme You are interested in the cycle-to-work scheme and were going to contact one of the many providers out there. But is this the best way to take advantage of the scheme? In case you don’t know about the scheme it allows you to provide bicycles […]
TAX TIP OF THE WEEK – Making a will tax efficient
TAX TIP OF THE WEEK – Making a will tax efficient The general advice is that we should all have a will so we retain control of how our estate is distributed. However, in certain situations making a simple change to a will can save thousands in Inheritance Tax. It is common practice for wills […]
TAX TIP OF THE WEEK – Shutting down a business that didn’t work out?
TAX TIP OF THE WEEK – Shutting down a business that didn’t work out? A company you set up didn’t work out and now you want to shut it down. Will HMRC still insist you submit accounts and tax returns for that final period. As a general rule HMRC expects full accounts and corporation tax […]
TAX TIP OF THE WEEK – Selling an asset liable for capital gains?
TAX TIP OF THE WEEK – Selling an asset liable for capital gains? Are you are selling an asset which is going to give rise to a sizeable capital gain. You remember making a loss on an investment gone wrong in the past, but that was decades ago. Could you still offset this? Generally speaking, […]
TAX TIP OF THE WEEK – Alternative tax reductions to mortgage relief
TAX TIP OF THE WEEK – Alternative tax reductions to mortgage relief Since mortgage interest relief was restricted a few years ago property landlords have found tax bills have increased. Are there other further hidden deductions they could claim instead? Perhaps, there are a few areas where expenses are underclaimed or not claimed at all: […]
TAX TIP OF THE WEEK – New investor in your start-up?
TAX TIP OF THE WEEK – New investor in your start-up? You have found someone who wants to invest in your new start-up company. The trouble is they want a share of the profits meaning they will hold shares. Your not keen on giving away control so what can you do? Most business angels will […]
TAX TIP OF THE WEEK – Spouse was a shareholder?
TAX TIP OF THE WEEK – Spouse was a shareholder? If your marriage has broken down and your spouse was also a shareholder in the company. Then act quickly to avoid the additional pain of a CGT bill. It was recently announced there has been an increase in divorce rates. As well as deciding how […]
TAX TIP OF THE WEEK – Are you a sole trader?
TAX TIP OF THE WEEK – Are you a sole trader? Are you operating as a sole trader? Find out how you could get extra tax savings when incorporating your business. Most likely your sole trader business will have some value in the way of goodwill. This value can in effect be sold to your […]