For income tax and capital gains tax purposes only the operation of a furnished holiday let (FHL) is deemed to be a business and not a property income investment. Specific ... Continue Reading
Although you have until 31 January after the end of the tax year to file your Tax Return, if you file it online by 30 December and the amount of tax that you ... Continue Reading
There is an exemption for inheritance tax purposes in addition to the £3,000 annual allowance for gifts made out of income on a regular basis. It is important ... 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
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
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
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
