Buy-to-let mortgages, interest relief and tax avoidance
Most private landlords hold property in their name, although recent changes in mortgage interest relief have prompted many to consider switching to a company.
HMRC responds to landlord hybrid partnership scheme
Since HMRC began to taper mortgage interest tax relief in the 2017/18 tax year, we have seen the emergence of schemes looking to maximise income by minimising tax liabilities.
Settlements Legislation: School fee Schemes
Over the years, we have seen many "tax efficient" schemes come and go concerning the payment of school fees. This has been closely followed by tightening regulations after some high-profile court disputes.
Tax-free allowances. Are you claiming all of your eligible allowances?
The UK tax system is complex, to say the least, and many people are only now finding out about personal and business tax-free allowances which they have failed to claim.
What business expenses can you claim for?
Company owners and executives need to be aware of legitimate expenses that can be charged to their business as there may be the opportunity to reduce corporation tax liabilities.
How are digital coins taxed, and when does the tax liability accrue?
The world of digital coins, otherwise referred to as cryptocurrencies, has changed dramatically in recent years. There is now a more formal regulatory structure, and the tax authorities are aware of those trading any digital asset.
Bookkeeping, bank feeds and real- time accounts
The concept of bookkeeping is relatively straightforward, monitoring income and expenses, together with various adjustments, to produce a profit and loss account. However, there is much more to the modern-day bookkeeping package!
How do you gift money to Trusts to avoid IHT
When looking at gifting money to trusts and individuals to manage your inheritance tax liability, there are several issues to consider. Chargeable lifetime transfers, potentially exempt transfers and the seven-year deadline look straightforward, but there are potential complications.
Is inheritance tax unfair?
Conservative MP, and former Chancellor of the Exchequer, Nadhim Zahawi, has reignited a heated debate about the morality of inheritance tax. Supported by 50 colleagues, he has called the current inheritance tax structure into question, suggesting it should be scrapped.
How to Utilise Capital Gains Tax Deferral Relief
While capital gains tax deferral relief has been in place for some years, the ongoing reduction in the capital gains tax allowance will make this option more valuable as we advance.