Generally, when a person sells a home that they have lived in as their main residence, they will not have to pay tax on any gain that has arisen since they purchased the property. This is because of the capital gains main residence exemption which takes the resulting gain outside the capital gains tax charge. […]
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax relief where it is available. The rules that provide relief for interest and finance costs depend on the type of let, and the rules on traditional residential lettings are now
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If you need to file a self-assessment tax return for 2021/22, you must do this online by 31 January 2023 if you want to avoid a late filing penalty. However, if you received your notice to file a tax return after 31 October 2022, a later deadline applies; you must file the return within three
The Annual Investment Allowance will now remain at ยฃ1 million permanently rather than reverting to ยฃ200,000 from 1 April 2023. This change of plan may mean that businesses will want to consider their capital expenditure plans. However, companies wishing to take advantage of the time-limited super-deduction and 50% first-year allowance will need to ensure that
