There are certain types of gifts which are ignored for the purposes of the seven year period referred to above – in other words they are completely exempt ... Continue Reading
Entrepreneurs’ relief provides relief against capital gains tax on qualifying gains made by an individual on the disposal of all or part of the business, ... Continue Reading
Capital allowances augment a loss. In certain circumstances it may be better not to claim the allowances as this may preserve personal allowances. This strategy ... Continue Reading
By taking the lump sum option offered on most personal pension schemes you receive a tax-free lump sum and purchase an annuity with the balance. Because the ... Continue Reading
Inheritance tax (IHT) is charged on the value (assets less liabilities) of a person’s estate on death. The first £325,000 is exempt (the ‘nil rate ... Continue Reading
Expenses may be incurred in the setting up of a letting business (for example, travel, phone, advertising, etc.) before the first rental receipt is received; ... Continue Reading
EIS schemes offer tax relief on contributions at 30% and a tax deferral on gains. EIS investments are generally high risk and invest in a single company. If ... Continue Reading
A property owned jointly or in partnership does not necessarily mean that the rental profit or loss must be allocated in the same proportion as the underlying ... Continue Reading
Relief for pre-trading expenditure does not extend to capital expenditure. However, similar rules allow capital expenditure qualifying for capital allowances ... Continue Reading
By taking the lump sum option offered on most personal pension schemes you receive a tax-free lump sum and purchase an annuity with the balance. Because the ... Continue Reading