09 May 2017
The internet is awash with information for landlords on the benefits of incorporation, but the promised tax reliefs will not be available to all. Landlords are therefore advised to seek advice relating to their own specific circumstances before rushing to incorporate. Unfortunately in tax if something sounds too good to be true, it usually is.
18 April 2017
The government’s pledge to not raise rates of income tax, VAT and National Insurance contributions during the current parliament (the triple lock) has meant that it has had to look to other ways of increasing the tax take.
18 April 2017
As we know, the Chancellor was forced into an embarrassing U-turn only a week later on the basis that the 2015 Conservative Party election manifesto had promised no increase in NIC (or VAT or income tax) rates: it is perhaps strange that no advisers pointed this out to Mr Hammond before he made his Budget speech.
05 April 2017
The start of a new tax year is a reminder that it is never too early to plan your affairs tax efficiently for the coming year. Making plans now can help maximise reliefs and allowances, aid cash flow through the understanding of what tax is payable and when, and avoid a last minute dash to the finish line this time next year.
Peter is a tax partner in Stoke office and is national head of capital allowances. He has over 20 years experience in advising owner-managed businesses on ways of optimising their overall tax position.
28 March 2017
The corporation tax regime is complex and subject to a wide range of anti-avoidance measures. A lower rate and additional deductions for management expenses should be welcomed.
17 March 2017
As the end of the tax year approaches, what claims and elections should you consider?
14 March 2017
Some changes in inheritance tax law can affect your will. On 6 April 2017 the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 will be introduced, with further increases up to a maximum of £175,000 by 6 April 2020. The conditions to qualify for the RNRB are such that careful Will drafting is required.
09 March 2017
The Budget has not brought any major surprises to the property sector. Relief from rates for small businesses and pubs as well as the extension of anti-avoidance measures may impact on genuine businesses. Inheritance tax and the restriction of interest and corporate losses to be introduced in April are still a concern for the sector