The dividend allowance is available in addition to the personal allowance. It allows all taxpayers regardless of the rate at which they pay tax to receive dividends up to the level of the dividend allowance free of any personal tax. This is in addition to any dividends sheltered by the personal allowance which are also […]
Reduction in the Dividend Allowance Read More »
A gain on the sale of an investment property, such as a buy-to-let or second home, will be liable to capital gains tax to the extent that it is sheltered by losses or the annual exempt amount. The annual exempt amount is like a personal allowance for capital gains tax purposes and allows individuals to
Time Sale to Take Advantage of Higher Annual Exempt Amount Read More »
Many landlords purchase their investment properties with the aid of a mortgage. In the current climate of rising interest rates, landlords may be wondering whether any tax relief is available to help them. While tax relief is available for interest and finance costs (but not capital repayments), the nature of the relief depends on the
Mortgage Interest and Tax Relief Read More »
In the ill-fated mini Budget, the then Chancellor increased the residential stamp duty land tax threshold from £125,000 to £250,000 with effect from 23 September 2023. The first time buyer threshold was also increased by £125,000 to £425,000; it now applies where a first-time buyer buys a home costing £625,000 or less. Unlike many of
Take Advantage of the Limited Window to Save SDLT Read More »
The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include “eye-watering” cuts in public spending and tax rises for those with the ‘broadest shoulders’. Unlike the ill-fated Fiscal Event of 23 September, the Government “rolled the pitch” this time with several leaks prior to the event.
Tax Increases and Public Spending Cuts Read More »
The Headline Message From The Chancellor The Growth Plan 2022 makes growth the government’s central economic mission, setting a target of reaching a 2.5% trend rate. Sustainable growth will lead to higher wages, and greater opportunities and provide sustainable funding for public services. The United Kingdom currently faces a period of high inflation. The government
A Simple Guide to the Mini-Budget UK’s Growth Plan Read More »
Welcome to this special newswire. In this edition we focus on the Chancellor’s Autumn Budget. Please contact us if you wish to discuss any matters in this newsletter in more detail. Budget and Spending Review On 27 October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. Many of
Highlights of Autumn Budget 2021 – Tax Newsletter Uk November 2021 Budget Edition Read More »
The Government’s policy to increase the residential stamp duty land tax threshold has been there since the lockdown. What residential benefits must you expect from the temporary cut in SDLT? You’ll witness an increase in the threshold of £125,000 to £500,00. That was done primarily to make sure the property market gets back on its
What Residential Benefits to Expect from the Temporary Cut in SDLT? Read More »
At the end of the financial year for many businesses, employees may be fortunate enough to think of a bonus. If this is the case, then the tax accountants will review things beforehand to see if there is a risk of suffering effective tax rates of up to 60%, and if so, whether one can
Tax Accountants on Tax Rate of Bonuses Read More »
The domestic reverse VAT charge for building and construction services was due on 1 October 2019. Early September marks the start date being back one year. The charge will now apply from 1 October 2020. Who Will the Reverse Vat Effect? The charge will affect individuals and businesses who are on record for VAT in
Domestic Reverse VAT Charge for Building and Construction Read More »
