2018/19 capital gains tax annual exemption set at £11,700

The Capital Gains Tax (Annual Exempt Amount) Order 2018 sets the annual exempt amount for individuals in 2018/19. What does it mean? When is CGT charged? CGT is charged on any chargeable gains made during the year that are in excess of the annual exempt amount, after losses and reliefs have been applied. However, non-UK … Continue reading 2018/19 capital gains tax annual exemption set at £11,700

Trustees must register their trust with HMRC by 5 March 2018

All existing trusts that incurred a tax liability during 2016/17 are required to register using the Trust Registration Service (TRS) even if a 41G form has been submitted. What's involved? What counts as a tax liability? A liability to income tax, capital gains tax, inheritance tax, stamp duty land tax, stamp duty reserve tax or … Continue reading Trustees must register their trust with HMRC by 5 March 2018

Small firms urge tax reform as they lose £5,000 and 15 working days a year to compliance

The average UK small business spends £5,000 and three working weeks every year on tax compliance, according to the latest report from the Federation of Small Businesses (FSB). Taxing Times highlights the many hurdles small businesses face when trying to pay taxes. Almost half (46%) say determining the tax rates at which they’re required to … Continue reading Small firms urge tax reform as they lose £5,000 and 15 working days a year to compliance

What are Vacant Building Credits and how do they benefit you.

Vacant Building Credits (VBC) apply to all buildings that have not been abandoned, and that you have not made vacant, that is:- 1. Brought back into use or 2. Demolished to be replaced by a new building. 3. That are commercial to residential conversions The developer receives a credit equivalent to the existing gross floor space … Continue reading What are Vacant Building Credits and how do they benefit you.

Book recommendation – “Money – Know more, make more, give more” by Rob Moore

This is the first post after a long summer break but what a way to start beck. I first downloaded this book on Audible when the audio version was released in late July and was instantly blown away by the content. So imagine my excitement when the hard copy dropped through my door on it's recent … Continue reading Book recommendation – “Money – Know more, make more, give more” by Rob Moore