What is a post transaction valuation? When you sell an asset, you will need to report this to HM Revenue & Customs (HMRC) and pay any Capital Gains Tax (CGT). But you may not have sold the asset in question at market value so what do you do? In that case, you need to […]
Category Archives: Tax Planning
Business Tips, Capital Allowances, Corporation Tax, HM Revenue & Customs, National Insurance, Personal Tax, Tax Planning
Mini Budget 2022
26
Sep
Sep
The new Chancellor Kwasi Kwarteng revealed his first budget on Friday 23rd September. Whilst many of us were expecting some tax breaks nobody had predicted the biggest tax cutting budget since 1972. The tax cuts and other incentives in the budget are directed towards growing the UK economy. The government is targeting a 2.5% growth […]
30
Aug
Aug
If you already have a property portfolio or are considering building one, should you do this in your name or within a company? Also, if you have a portfolio, is it worth transferring it into a company rather than holding it in your own name? In recent years landlords up and down the country have […]
24
Aug
Aug
Are you thinking about buying a car? If so, will it be an electric car? Will you buy it or lease it? Will it be a Company Car, or will you buy it personally? Buying a car is a big decision and one that should be taken with some thought. Whether you buy or lease […]
Business Tips, Cash Flow, News, Tax Advice, Tax Planning
High Interest Rates and Rising Inflation – What should you do next?
17
Aug
Aug
The Bank of England increased interest rates from 1.25% to 1.75% and has predicted that the UK will fall into recession in the last quarter of 2022. So, with high interest rates and rising inflation what should you do next? The Bank believes that increasing interest rates at a faster rate will mean spending will be controlled. […]
Business Tips, HM Revenue & Customs, Personal Tax, Tax Advice, Tax Planning
Letting out your property as a holiday let?
18
May
May
The pandemic is said to bring a few behavioural changes. Working from home including “blended working” is one such example and letting out your property as a holiday let may be another one. During the later part of 2021 many councils in the tourist areas of the country were experiencing significant rises is housing waiting […]
06
Apr
Apr
Whilst tax is unlikely to be at the top of your list of important issues if you decide to separate, the potential benefits which could arise from prudent tax planning can ensure that both parties do not have unexpected and unwanted tax charges. This is particularly relevant for Capital Gains Tax (“CGT”), which, in reality, […]
Employee Benefits, Myers Clark Updates, National Insurance, Payroll, Tax Advice, Tax Planning
Is Salary Sacrifice a good idea?
02
Mar
Mar
You may have heard the term “salary sacrifice” on occasions and wondered what it is. Have you ever wondered if you should participate in the scheme either as an employee or an employer? Basically, is salary sacrifice a good idea? What is Salary Sacrifice? Salary sacrifice schemes are not a new thing and have […]
capital gains tax, HM Revenue & Customs, Tax Advice, Tax Planning, Tax Tips
Capital Gains Tax Deferral Relief – Enterprise Investment Scheme (“EIS”) Investments
23
Feb
Feb
Are you thinking of selling an asset? Or have you recently sold or gifted an asset that gave rise to a Capital Gains Tax (CGT) liability? If so, there is an often underutilised relief that could improve your cash position; Capital Gains Tax Deferral Relief. If you pay income tax at the higher or […]
02
Feb
Feb
Why will be it be necessary to do some tax planning moving forward. You may have seen in the press last week, there is not going be a “U” turn with the introduction of the new health social care levy. The UK government borrowed another £16.8 billion in December 2021 and the Covid 19 pandemic […]