Why 2019/20 is the year to get it done early. With everything that’s happened so far this year, it might be easy to forget your obligations to file a Tax Return for 2019/20 by midnight on 31 January 2021. The Coronavirus pandemic and subsequent economic crisis has...
Prior to 6 April 2020, taxpayers had between 10 and 22 months from the sale or disposal of a UK residential property to pay and report Capital Gains Tax (CGT) on property disposals. However, from 6 April 2020, new rules came into force – where CGT is payable on...
Even among those who follow good tax planning practice and maintain forecasts running several years forward, it is unlikely that many foresaw the dramatic end to the 2019/20 tax year. With the arrival of COVID-19 and the subsequent lockdown, the economy shrank a...
The Coronavirus (COVID-19) has seen an upsurge in homeworking. For many people, there are questions on the tax on the equipment required. What If I Contribute to Employee Costs? You can look to reimburse some specified costs incurred by employees when working from...
Have you considered employing family members in your business? As long as you can justify their involvement, you can employ them in your business. In a limited company, they can be remunerated with a salary, receive benefits, and be included in your company pension...
Before the Budget, there were fears that it might be scrapped altogether. It wasn’t. Entrepreneurs’ Relief (ER) lives on, but with a new name – Business Asset Disposal Relief – and a new, lower lifetime limit. ER, as we will call it for one last time, is a...
