Tax Tips
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
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.
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
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
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
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 team with a sponsorship payment from your company. In the past HMRC have declined tax relief on
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, with a
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
TAX TIP OF THE WEEK – As a director of a Ltd Co could you benefit by also being a self-employed contractor to it?
Generally, any work you do for your Ltd and you are paid for will count as employment earnings or dividends. However, if say the work