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Archive for the "Allowances" Category

Increased Capital Allowances Start 1 January 2019

9th January | Posted in: Agricultural, Allowances, Business Tax, Tax planning

As previously advised, a temporary increase in the Annual Investment Allowance (AIA) to £1 million for expenditure on plant and machinery took effect from 1 January 2019. However, transitional rules ...

Christmas is the time for giving!

18th December | Posted in: Allowances, Capital gains tax, Company News, Inheritance tax, Planning

Anyone thinking about making gifts at Christmas should take advantage of the various Inheritance Tax (IHT) exemptions and reliefs available to them. However, please note that certain gifts may also ha...

New structures and buildings capital allowance for commercial bui...

27th November | Posted in: Agricultural, Allowances, Business Tax, Planning, Properties, Property Investment

A new 2% straight line tax deduction, the structures and buildings allowance, has been introduced for the cost of construction or renovation of commercial buildings and structures. This tax break will...

Annual investment allowance increased to £1 million

27th November | Posted in: Agricultural, Allowances, Business Tax, Planning

The Annual Investment Allowance (AIA), which provides businesses with a 100% write off against profits when they acquire qualifying plant and machinery, has been temporarily increased from £200,000 t...

Personal allowance and UK higher rate tax limit increased early...

26th November | Posted in: Allowances, Government Announcements, PAYE & NI, Personal Tax, Planning

The UK Government’s manifesto pledge back in 2015 was that the personal allowance would rise to £12,500 in 2020 and the higher rate tax threshold to £50,000. The Chancellor announced in his recent...

Taking a lodger? Don’t forget to claim “Rent a Room&...

29th May | Posted in: Allowances, Property Investment, Regulations

HMRC are carrying out a review of rent a room relief to discover whether the scheme, introduced back in 1992 provides the right incentives for the rental market. The current scheme exempts from tax, g...

newsletter

May 2018 E-Newsletter

28th May | Posted in: Allowances, Business Tax, Community, PAYE & NI, Planning

Welcome to our May newsletter and with the summer holiday season approaching, it is topical that  the first article is related to Bed & Breakfast dwellings. May 2018 E-Newsletter As you will have...

April 2018 E-Newsletter

1st May | Posted in: Allowances, Business Tax, Charity, Company News, PAYE & NI, Pensions, Savings & Investments, Personal Tax, Planning

We hope you enjoy reading the various articles in this month’s newsletter. We attempt to keep you up to date with ever changing legislation changes, but there is no substitute for speaking with ...

Buying a Guest House? – Don’t miss out on hidden tax allowanc...

30th April | Posted in: Allowances, Business Tax, Property Investment

The Guest House and B & B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is pote...

Simple and regular Inheritance Tax Planning

11th April | Posted in: Allowances, Pensions, Savings & Investments, Personal Tax, Planning, Property Investment

Inheritance Tax (IHT) is a charge on the value of your estate when you die. There are a number of exemptions available to help reduce your estate’s potential Inheritance Tax charge. Described below ...

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