” We are living in one of the strangest periods in history where the Government introduces a number of tax measures one day and then reverses those same measures a few days later. This results in uncertainty for the markets which is not a good thing.” Quote from Nigel Holland Details about the new plan.. read more →
Houses of Multiple Occupancy Overview A house in multiple occupation (HMO) is a property rented out by at least 3 people who are not from 1 ‘household’ (for example a family) but share facilities like the bathroom and kitchen. It’s sometimes called a ‘house share’. If you want to rent out your property as a house in.. read more →
You may be liable to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) property that’s not your home, for example: buy-to-let properties business premises land inherited property The rules are different if you: sell your home live abroad are a company registered abroad When you don’t pay Generally, you.. read more →
Chancellor Philip Hammond announced 13 consultations in his Spring Statement on 13 March 2018. Here are 5 of the key consultations revealed: VAT registration threshold A review has been launched into the design of the VAT threshold, amid concerns it may currently be disincentivising small businesses from growing beyond a £85,000 turnover. Cashless and digital.. read more →
… or Making Tax Difficult as I prefer to call it ! The government has back-tracked on their original proposal to digitise taxpayers’ affairs. The original plan, to have most self-employed traders and landlords uploading accounts and VAT data from April 2018, was scrapped. The new plan, delayed until April 2019, requires traders registered for.. read more →
David K Crossley CTA, ATT
Member of the Chartered Institute of Taxation