Teresa

Whether you’re a buy-to-let landlord, a shareholder, an art dealer or you fall somewhere in between, the chances are you will be familiar with paying capital gains tax (CGT).

When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from certain tax reliefs which wouldn’t otherwise be available to residential landlords, providing certain conditions are met.

Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April 2019.

IR35 is the shorthand name for tax rules concerning the provision of personal services through intermediaries.

With a new tax year almost upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company.

Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors.

Traders have been able to prepare their accounts using the cash basis since April 2013, as long as they meet certain eligibility conditions.

TAXABLE INCOME BANDS AND TAX RATES   2018/19 2017/18 Starting rate* of 0% on savings up to £5,000 £5,000 Basic rate band £34,500 £33,500 Higher rate band £34,501 – £150,000 £33,501 – £150,000 Additional rate band Over £150,000 Over £150,000 Basic rate 20% 20% Higher [...]

Most employers choose to recognise the ongoing commitment made by their members of staff by providing various benefits and rewards.

The tax treatment of termination payments can be complex, not least because a termination package typically comprises several different elements, which may be treated differently for tax and national insurance purposes.