TAX TIP OF THE WEEK – Just purchased a holiday home?Make sure you take steps to minimise the eventual capital gains tax liability.
TAX TIP OF THE WEEK – Just purchased a holiday home?Make sure you take steps to minimise the eventual capital gains tax liability. When you eventually sell your holiday home any gain made from property (sale – purchase price) is likely to be subject to CGT. However, you can use principal private residence (PPR) relief […]
TAX TIP OF THE WEEK – Had a fall out with your business partner and looking to split it, what is the most tax efficient way you can do this?
TAX TIP OF THE WEEK – Had a fall out with your business partner and looking to split it, what is the most tax efficient way you can do this? It’s an all too common scenario where friends start a business and all is well for a few years. After which they start having different […]
TAX TIP OF THE WEEK – Becoming VAT registered for the 1st time? Make sure you don’t miss out on reclaiming old VAT.
TAX TIP OF THE WEEK – Becoming VAT registered for the 1st time? Make sure you don’t miss out on reclaiming old VAT. So you probably already know that once your business becomes VAT registered you can start reclaiming the VAT paid on purchases. However in addition you may also be able to recover VAT […]
TAX TIP OF THE WEEK – What is the best way to set up a new business venture which expects to make losses in the first year or two?
TAX TIP OF THE WEEK – What is the best way to set up a new business venture which expects to make losses in the first year or two? You might think that it is better to start a new company, as profits a generally taxed at lower rates than unincorporated businesses. However, where there […]
TAX TIP OF THE WEEK – Use a loan swap to get tax relief on your main mortgage interest
TAX TIP OF THE WEEK – Use a loan swap to get tax relief on your main mortgage interest Ordinarily, the mortgage interest you pay on a home is not an allowable deduction against your income for tax purposes. However, if you have built up some value in your company over the years, then with […]
TAX TIP OF THE WEEK – Sponsoring a local sports team can be a great way to give back to the community. In addition, there are also tax reliefs to be obtained, however, to avoid issues with the Taxman it is important to follow the correct steps..
TAX TIP OF THE WEEK – Sponsoring a local sports team can be a great way to give back to the community. In addition, there are also tax reliefs to be obtained, however, to avoid issues with the Taxman it is important to follow the correct steps.. So you have just helped your son’s football […]
TAX TIP OF THE WEEK – Made some good gains from Cryptocurrencies in the last few years? Great but have you considered the tax position when you eventually come to sell them?
TAX TIP OF THE WEEK – Made some good gains from Cryptocurrencies in the last few years? Great but have you considered the tax position when you eventually come to sell them? Crypto is classified as an asset which means when you come to sell them you will be subject to capital gains tax. However, […]
TAX TIP OF THE WEEK – Looking to sell your 2nd property but worried about capital gains tax?
TAX TIP OF THE WEEK – Looking to sell your 2nd property but worried about capital gains tax? In recent years house prices have gone through the roof and if you have owned the property for a decent amount of time then you will likely be facing a hefty CGT bill on sale. However with […]
TAX TIP OF THE WEEK – As a director of a Ltd Co could you benefit by also being a self-employed contractor to it?
TAX TIP OF THE WEEK – Fancy getting away for the winter months to that new holiday home in Spain , could you do so tax efficiently?
TAX TIP OF THE WEEK – Fancy getting away for the winter months to that new holiday home in Spain , could you do so tax efficiently? You would love to buy that property, the problem is you don’t have that much in personal savings to stump up a deposit, as all your cash is […]