Blog

Page 2 of 41
57
Views

Do I need to charge my residential tenant VAT?

Q. My company bought a retail premises 18 months ago and I am VAT registered. I now want to let the flat upstairs to a residential tenant. Do I need to charge her VAT? A: No, as letting residen... more

Tags:


61
Views

Have I affected my retirement plans?

Q. I am 60 but still working. I have therefore avoided touching my various pension pots (which I still contribute regularly to) until recently. Last year, my son's business was struggling with ... more


55
Views

How do we charge a tenant when subletting part of our warehouse?

Q. Our company uses the cash accounting scheme. We've lost a lot of trade as a result of Brexit and Covid-19 and we're looking to sublet part of our warehouse. We have opted to tax this. We... more

Tags:


97
Views

Spring Budget 2021 - Community Ownership Fund (COF)

Community Ownership Fund (COF) The Government is setting up a £150 million Community Ownership Fund to enable community groups to bid for up to £250,000 to help them take over strug... more


88
Views

Spring Budget 2021 - Help to Grow Scheme

Help to Grow Scheme This scheme aims at helping SMEs (small and medium enterprises) to become more productive by providing access to some of the UK’s top business schools.   ... more


88
Views

Spring Budget 2021 - Green Policies

Green Policies Rishi announced the first ever UK Infrastructure Bank. Located in Leeds, the Bank will invest across the United Kingdom in public and private projects to finance the green indust... more


82
Views

Spring Budget 2021 - Car Benefits & Van Benefits

Car Benefits & Van Benefits Cars The car benefit charge is calculated by applying a certain percentage to the list price of the car. That 'percentage' can be based upon a number... more


90
Views

Spring Budget 2021 - VAT

VAT The taxable turnover threshold for determining whether a person must register for VAT will remain at £85,000 and the point at which a person can apply to deregister will also remain a... more

Tags:


82
Views

Spring Budget 2021 - Research & Development & Patent Box

Research & Development & Patent Box The 230% Research & Development (R&D) tax relief on expenditure incurred in respect of R&D work remains in place as does the 100% R&D... more


80
Views

Spring Budget 2021 - Self-employed Trading Losses

Self-employed Trading Losses This relates to trading losses made by unincorporated businesses in tax years 2020/21 and 2021/22. Trade loss carry back will be extended from the current one year ... more


80
Views

Spring Budget 2021 - Corporate Trading Losses

Corporate Trading Losses  This relates to company accounting periods ending in the period 1 April 2020 to 31 March 2022.   The amount of trading losses which can be carried ba... more


79
Views

Spring Budget 2021 - Investing in Equipment

Investing in Equipment The Company Super Deduction Allowance 130% is a first year allowance deduction for expenditure incurred in purchasing plant & machinery (P&M) that would norma... more


64
Views

Spring Budget 2021 - Company Taxation

Company Taxation  The Corporation Tax (CT) rate is to remain at 19% until 31 March 2023. From 1 April 2023, the Corporation Tax main rate for non-ring fenced profits will be increased to 2... more


73
Views

Spring Budget 2021 - Capital Gains Tax

Capital Gains Tax The annual exempt amount for individuals for gains on the disposals of assets will remain at £12,300 until April 2026. As regards Trusts and Personal Representatives the... more


75
Views

Spring Budget 2021 - Stamp Duty Land Tax

Stamp Duty Land Tax  The present Stamp Duty Land Tax (SDLT) concession which affects house purchases in England and Northern Ireland was due to come to an end on 31 March 2021. This ha... more