When it comes to letting property, not all are equal when it comes to tax – lettings that qualify as ‘furnished holiday lettings’ (FHLs) benefit from special tax rules. The operation of a FHL is deemed to be a business rather than a property income investment and therefore the usual business income and expenditure accounts […]
Holiday Lets – What Happens If The Rules Are Not Complied With? Read More »
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SDLT Savings For Mixed Use Property Read More »
Corporation Tax Increases Soon To Take Effect Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now. While the changes do not come into effect for a year, applying from the financial year 2023 which starts on 1 April 2023,
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Directors’ Loans – Which Loan Should You Repay First? In a personal or family company the director will often borrow money from the company. This can be an easy source of finance, and also one that can be tax efficient as, if you time it correctly, it is possible to borrow up to £10,000 for
Directors’ Loans – Which Loan Should You Repay First? Read More »
Interest On VAT Repayments From HMRC – The Current Rules And Proposed Abolition Of Repayment Supplement. Under current rules, if a VAT return shows that a repayment is due then HMRC should repay within 30 calendar days of receiving the business’s VAT Return. If the repayment is not authorised within that time limit, the business
