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
A reminder to higher rate tax payers that tax relief on mortgages taken out to buy residential properties to let will be restricted to basic rate tax relief only. For more details see the HMRC notes. https://www.gov.uk/government/news/changes-to-tax-relief-for-residential-landlords
See CronerTaxwise summary of budget provisions Do let us know if you would like to discuss any particular announcements in more detail.