Entrepreneurs’ relief is no more (in name at least). Last March, one of the headline-grabbing measures announced in what will be the only Budget speech of 2020 surrounded what we knew as entrepreneurs’ relief. The relief was designed to be an incentive for...
Income tax: The Winter Economy Plan gives longer to pay for liabilities due in January 2021. This applies not just if you took up the option of putting off to 31 January 2021 the second income tax self-assessment payment on account for 2019/20, due by 31 July 2020,...
Are you a landlord looking to purchase another rental property? Are you looking to purchase a property for investment purposes? If you are considering moving home in the second half of 2020/21, you are by no means alone. In the month leading up to 8 August 2020,...
Making Tax Digital for VAT (MTD for VAT) has been effective for businesses with turnover above the VAT threshold of £85,000 since April 2019. HMRC recently outlined its next steps, including the introduction of Making Tax Digital for Income Tax Self-Assessment. Here,...
The Annual Investment Allowance (AIA) provides a tax write-off against profits for expenditure incurred on plant and machinery by businesses and owners of commercial property. The AIA is reduced from £1,000,000 to £200,000 from 1 January 2021 and the AIA will be...
Life after mortgage interest relief for landlords Historically, landlords have enjoyed generous income and capital gains tax reliefs which helped make residential property an attractive investment for those looking to add to their monthly incomes or provide for...
