In the spring 2024 budget the chancellor announced a 4% reduction to the upper rate of capital gains tax if you sold your buy to let property. This tax reduction along with the current higher interest rates is making a lot of landlords consider selling up. In this article we take a look at the tax position and things to think about when selling your buy to let property.
On 6 March the Chancellor delivered his spring budget 2024. Fair to say that despite the government being pleased with how the economy has performed against targets, they are being prudent with regards to any tax cuts. We take a look below at the main points announced.
HMRC have said that they believe 1.1m self-assessment tax returns were not filed by the 31 January 2024 deadline. Some of these may have been due to fears over being able to pay the tax liability, but the guidance would always be to file on time and if required you may be able to request a Self Assessment Time to Pay Arrangement with HMRC. In this blog post we take a look at what a Time to Pay arrangement with HMRC is.
From 1 January 2024 online sales platforms like Vinted and Ebay will have to collect information about the sellers and share this with HMRC. This has made quite a few headlines, with a bit of scaremongering that we all will have to declare on our tax returns how we sold that old leather jacket on Ebay. We take a look at what the changes actually mean below and whether you will pay tax when selling online.
We’re taking a look at what the Chancellor announced in his autumn statement 2023 and what this means for individuals and their businesses. You could definitely tell this was an autumn statement being made with an eye on next years’ general election – we take a look at the effects of what was announced.
With the Christmas season almost upon us businesses will be looking to book up their Christmas party and let staff know the plans. As well as considering how long the bar is open for, there are tax considerations to also throw into the mix. In this blog post we take a look at what they are.
In this blog post we take a look at the basics of VAT including when you must register, what happens when you do, and the different schemes that you can operate. It can be a very complicated tax which sometimes makes it seem intimidating, but it is worth noting that in the vast majority of cases and transactions it is fairly straightforward.
Following on from last months topic of Benefits In Kind, we thought this month we would give a detailed guide to personal tax codes – what they mean, how to understand them, when they change, and how you can check yours is correct.
It is becoming increasingly competitive to recruit employees, and a growing expectation by potential employees for benefits in kind to be provided. HMRC say that anything of monetary value you provide to an employee that is not “wholly, necessarily and exclusively” for them to perform their role is a benefit-in-kind. We take a look at what this means for you and the employee, and what you can provide to them tax free!
Running your own business can often make you feel like there is not enough time in the day, meaning deadlines can come round much quicker than expected. In this blog we thought we would run through the accounting and taxation deadlines for your small business, and what the important dates to remember are.