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 for repair and maintenance incurred prior to the first letting income received may be allowable provided certain conditions are met; namely that: • ... Continue Reading
PPR is a valuable tax relief and ‘flipping’ is legitimate tax planning. However, if used too many times or in quick succession, there is the danger ... Continue Reading
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
