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Jan 53 min read
Planned changes to agricultural property relief | Outsourced Financial | Outsourced Bookkeeping Services
Protests by farmers following the October 2024 Budget have catapulted agricultural property relief (APR) into the spotlight. But what is...
Jan 53 min read
Gift the holiday let by 5 April 2025 to benefit from hold-over relief | Outsourced Financial | Outsourced Bookkeeping Services
The favourable tax regime for furnished holiday lettings is to come to an end on 5 April 2025. This will mean that landlords of furnished...
Jan 53 min read
When a dwelling is uninhabitable | Outsourced Financial | Outsourced Bookkeeping Services
Stamp duty land tax (SDLT) is charged at the residential rates on residential property and at the non-residential rates on...
Jan 53 min read
The tax implications of buying a commercial property at auction | Outsourced Financial | Outsourced Bookkeeping Services
Purchasing a commercial property at auction is a common occurrence. Although usually the sale or lease of a commercial property is exempt...
Jan 53 min read
When would taking benefits in kind be more tax efficient than salary and dividends? | Outsourced Financial | Outsourced Bookkeeping Services
For many years the most tax-efficient method of withdrawing monies from a company by a sole director/owner has been to take salary up to...
Jan 53 min read
Tax implications where an employer provides a van to an employee | Outsourced Financial | Outsourced Bookkeeping Services
Benefits in kind (BIK) are goods and services provided to an employee (or a member of their family or household) for free or at...
Jan 53 min read
What to do if you cannot pay your tax bill | Outsourced Financial | Outsourced Bookkeeping Services
As the cost of living crisis continues to bite, you may find that come 31 January 2025 you are struggling to pay your Self Assessment tax...
Jan 53 min read
Using the VAT flat rate scheme | Outsourced Financial | Outsourced Bookkeeping Services
The VAT flat rate scheme is a simplified flat rate scheme which can be used by smaller businesses to save work. Under the scheme,...
Jan 53 min read
Is it worth paying voluntary Class 3 NICs?| Outsourced Financial | Outsourced Bookkeeping Services
The payment of National Insurance contributions is linked to entitlement to the state pension. If sufficient National Insurance...
Jan 54 min read
Using ISAs to benefit from tax-free savings income | Outsourced Financial | Outsourced Bookkeeping Services
A combination of higher interest rates and stealth taxation may mean that you are now paying tax on savings income for the first time. If...
Jan 53 min read
What expenses can you deduct if you are self-employed? | Outsourced Financial | Outsourced Bookkeeping Services
If you are self-employed, you will pay tax on your taxable profit. In working out your taxable profit, you can deduct certain expenses...
Dec 3, 20243 min read
Impact of increase in SDLT supplement | Outsourced Financial | Outsourced Bookkeeping Services
Despite the shortage in rental accommodation, investment in residential property is out of favour. In her Autumn Budget, the Chancellor...
Dec 3, 20243 min read
Time to sell the investment property? | Outsourced Financial | Outsourced Bookkeeping Services
One of the few pleasant surprises in the Autumn 2024 Budget was that the Chancellor did not increase the rate of capital gains tax on...
Dec 3, 20242 min read
Maximise BADR on sale of the furnished holiday let | Outsourced Financial | Outsourced Bookkeeping Services
The favourable tax rules that apply to furnished holiday lettings (FHL) come to an end on 5 April 2025. For many landlords, this may be...
Dec 3, 20243 min read
Pre-trading loan trap – sole trader v company tax relief | Outsourced Financial | Outsourced Bookkeeping Services
Many start-up businesses take out loans to get going, e.g. to purchase stock needed to sell, or to make the first rent payment or rent...
Dec 3, 20243 min read
The impact of working from home on travel and subsistence claims | Outsourced Financial | Outsourced Bookkeeping Services
Post pandemic, homeworking has become the norm, especially the increase in 'hybrid' working, i.e. spending part of the week at home and...
Dec 3, 20243 min read
Alternative Dispute Resolution – is it worth using? | Outsourced Financial | Outsourced Bookkeeping Services
HMRC's Alternative Dispute Resolution (ADR) process was introduced over a decade ago, the intention being to provide an 'alternative'...
Dec 3, 20242 min read
Extension of MTD | Outsourced Financial | Outsourced Bookkeeping Services
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), sole traders and unincorporated landlords within its scope will...
Dec 3, 20243 min read
Mandatory payrolling – what will it look like? | Outsourced Financial | Outsourced Bookkeeping Services
Under payrolling, employers deal with taxable benefits provided to employees through the payroll, treating the taxable amount of the...
Dec 3, 20243 min read
Dispose of your business sooner rather than later to benefit from the best BADR rates | Outsourced Financial | Outsourced Bookkeeping Services
Business Asset Disposal Relief (BADR) is a valuable relief which reduces the rate of capital gains tax payable on gains made on the...
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