POSSIBLE CHANGES TO CGT PRIVATE RESIDENCE RELIEF

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POSSIBLE CHANGES TO CGT PRIVATE RESIDENCE RELIEF The government is currently consulting on important changes to private residence relief that are likely to be introduced from 6 April 2020.  The two possible changes, announced in the Autumn 2018 Budget are:  Firstly to limit to just 9 months the period prior to disposal that counts as … Read morePOSSIBLE CHANGES TO CGT PRIVATE RESIDENCE RELIEF

“RENT A ROOM” RELIEF TO CONTINUE FOR AIR BNB LANDLORDS

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“RENT A ROOM” RELIEF TO CONTINUE FOR AIR BNB LANDLORDS Last year HMRC carried out a review of rent a room relief and it was proposed that the availability of this generous relief would be restricted to situations where the taxpayer was resident for at least part of the time when the “lodger” was paying … Read more“RENT A ROOM” RELIEF TO CONTINUE FOR AIR BNB LANDLORDS

Extracting Profit From Your Family Company

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EXTRACTING PROFIT FROM YOUR FAMILY COMPANY The start of the new tax year means that shareholder/ directors may want to review the salary and dividend mix for 2019/20. The £3,000 employment allowance continues to be available to set against the employers national insurance contribution (NIC) liability which means that where the company has not used … Read moreExtracting Profit From Your Family Company

Making Tax Digital

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Fact:  All of our clients are Making Tax Digital (MTD) compliant because they use the latest online accounting software provided by the market leaders – Sage and Xero. What is Making Tax Digital (MTD)? Making Tax Digital (MTD) is a government initiative which aims to transform the administration of tax to create a simpler, more … Read moreMaking Tax Digital