Since April 2020, any Capital Gains Tax due on the sale of residential property must be paid within 30 days. We have seen a number of cases recently where vendors have not been made aware of the requirement by their solicitors or agents.
Annual Investment Allowance temporary increase to £1 million
A temporary increase in the Annual Investment Allowance (AIA) to £1 million announced in the Autumn Budget 2018 is now in effect. The new allowance – five times the previous cap – will benefit businesses investing from £200,000 up to £1 million in new plant and machinery.
EMI scheme: Business as usual
Enterprise Management Incentives (EMI) made headlines in April 2018, after HMRC revealed problems in securing continued EU state aid approval. After a period of uncertainty, it was announced that EMI will continue, unchanged. New research highlights the importance of the EMI scheme.
Tax tips for farming businesses – partnerships and capital expenditure
The end of the EU Common Agricultural Policy in the UK is set to bring huge changes to the farming sector. Now is a great time to review your plans for the future of your agricultural business, and think about how you will achieve them. Here, we look at the tax advantages of partnerships and why the timing of big business decisions is so important.
Business waste disposal: New Landfill Tax risk
Landfill Tax may not be a key concern for every business but it’s worth knowing that, since 1 April 2018, waste disposal at unauthorised sites may now be taxable.
Inheritance Tax Planning: Over 50s hold most property wealth
According to a recent report from property experts, Savills, 75% of the UK’s housing wealth is now owned by the over 50s. Small wonder, then, that the yield from Inheritance Tax is rising. What can you do to minimise the impact of IHT on your estate?
Furnished Holiday Lettings – A smart move for buy-to-let investors?
Recent changes to the rules on allowable costs have led to tougher times for buy-to-let landlords. But in business there are always opportunities… one option for buy-to-let investors could be to diversify into furnished holiday lettings (FHLs).
New tax year, new plans for saving tax
If you have already submitted your tax return for the tax year ended 5 April 2018, there’s no better time to think about saving tax in the current year. Here are three pieces of helpful tax-saving advice…
20 years and counting…
RfM Partner Gillian Isibor marked the 20-year anniversary of her arrival at the Preston practice… by speaking to us about how the firm has changed during that time, the skills she brings to the leadership team, and her vision for the future.
