There are a couple of HMRC proposed changes to the Capital Gains Tax Principal Private Residence relief announced in the last budget that may apply from 6th April 2020. The budget announcement has put the proposals out to ‘consultation’ so there is no guarantee that the changes will come into effect, but we should watch out…
A number of clients have been contacted by companies offering to complete Research & Development tax credit claims on their behalf. R&D claims offer valuable additional tax relief on expenditure which qualifies as part of an R&D project. The type of expenditure that qualifies is limited and clients should review HMRC guidance to form an…
In the event of a HMRC enquiry into your affairs, the Inspector will expect to see supporting records for all entries. In the absence of such records, HMRC will consider whether your SA Return or Accounts are accurate/complete. Additional tax, penalties & interest can result. We would therefore ask all clients to review the contents of the following links to the HMRC…
A client has just successfully raised 30% of funds required to develop a new business venture from ‘South East Business Boost’. If this is of interest to you then please click here and let us know if you would like to consider a funding approach.
If, on reviewing your income for any tax year, you find that you have tripped over into the higher rate or gone over £100k and are therefore having some of your personal allowance restricted, then you can consider making charity donations in the following tax year and setting those back against the previous year. For…
You can get up to £1,000 a year in tax-free allowances for property or trading income from 6 April 2017. If you have both types of income, you’ll get a £1,000 allowance for each. For more detail see the HMRC notes