The ‘Non-Resident Landlords Scheme’ (NRLS) requires that where there is no UK-based representative/agent, the rent being paid directly to a landlord ... Continue Reading
Tax relief is available for interest on loans where the money borrowed is used for certain qualifying purposes. Buying shares or lending money to a close company ... Continue Reading
If you bought an asset and sold it at a loss then it is possible that you made a capital loss (e.g. if you invested in a start-up that failed or bought an investment ... Continue Reading
The ‘Non-Resident Landlord Scheme’ (NRLS) requires persons who act as ‘representatives’ (agents) for the landlord to deduct basic rate tax ... Continue Reading
Where a person’s earnings fall between the lower earnings limit for Class 1 National Insurance purposes (£112 per week for 2015/16) and the primary earnings ... Continue Reading
The fuel benefit charge is very expensive and it may be the case that you can pay more tax on the fuel than on the company car. This will be the case where the list ... Continue Reading
Relief is available on borrowings to fund a loan to a close company. However, relief is denied if the funds are returned to the borrower.Example:Christopher is a ... Continue Reading
Sell the property, downsize and make a cash gift to a donee out of the proceeds. The amount of the gift needs to be sufficient to reduce the taxable estate to ... Continue Reading
When commencing self-employment, choosing an accounting date (the choice of year-end) can be crucial in determining whether low profits are taxed twice or high profits ... Continue Reading
Businesses can claim immediate relief for capital expenditure on most items of plant and machinery by means of the annual investment allowance (AIA). Capital expenditure ... Continue Reading