What is taxable when you sell a commercial vehicle or other equipment?20190129040000

What is taxable when you sell a commercial vehicle or other equipment?

January 29, 2019
When you purchase a van or other equipment that qualifies for tax relief, the cost of the asset is reduced - for tax purposes - by the amount of any C...
Sooner is better than later20190129040000

Sooner is better than later

January 29, 2019
This week we pass the filing deadline (31 January 2019) for the 2017-18 Self Assessment tax returns. A surprising number of taxpayers are still conten...
Brexit – what the UK government has advised business owners to do20190129040000

Brexit – what the UK government has advised business owners to do

January 29, 2019
The Brexit uncertainties continue. To help businesses consider their options HMRC has published more information for UK businesses that buy or sell go...
Charities – reducing input VAT20190129040000

Charities – reducing input VAT

January 29, 2019
Charities pay VAT on all standard-rated goods and services they buy from VAT-registered businesses. They pay VAT at a reduced rate (5%) or the ‘zero...
Who pays Income Tax in Scotland?20190129040000

Who pays Income Tax in Scotland?

January 29, 2019
According to HMRC, individuals pay Scottish Income Tax if they live in Scotland. Care should be taken when considering the phrase "live in Scotland". ...
Maximum AIA calculations for split accounting periods20190129040000

Maximum AIA calculations for split accounting periods

January 29, 2019
The recent, and temporary, increase in the AIA to £1m from 1 January 2019 creates computational issues if a trader's accounting period straddles this...
Government outlines new proposals to protect pregnant women and new parents against redundancy20190128040000

Government outlines new proposals to protect pregnant women and new parents against redundancy

January 28, 2019
The government has launched a consultation seeking views on new proposals to extend redundancy protection for pregnant women and new parents. As the ...
Welsh rates of Income Tax20190123040000

Welsh rates of Income Tax

January 23, 2019
The Welsh Government has confirmed that the proposed Welsh Government Budget has been ratified and that the new Welsh rates of Income Tax (WRIT) will ...
CGT relief for two dwellings for the same period20190123040000

CGT relief for two dwellings for the same period

January 23, 2019
As a general rule, there is no Capital Gains Tax (CGT) on a property which has been used wholly as a main family residence. This relief from CGT is co...
Changes to lettings relief and other exemptions April 202020190123040000

Changes to lettings relief and other exemptions April 2020

January 23, 2019
Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief...
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