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Spring Budget

Spring Budget

Employment, Education, Enterprise and Everywhere was the continued theme of today's Budget announcements. The Chancellor would like to get as many of us back into work, helping to meet his growth ambitions for the UK. The Pension Annual Allowance will increase from...

To let, or not to let, that is the question!

To let, or not to let, that is the question!

With local authorities set to inflate council tax for second homes, now may be the time to consider your property’s future. Occupy it! Now may be the right time for you to move in! Remember Private Residence Relief (PRR) applies from the date of occupation unless a...

Building for retirement

Building for retirement

With the 5th April fast approaching, tax year-end pension contributions are a popular savings and tax mitigation tool. Here’s a reminder of the key considerations: Personal pension contributions up to £3,600 (gross) can be made if an individual does not have relevant...

Death and Taxes

Death and Taxes

When a loved one passes away, the focus for personal representatives is invariably Inheritance Tax. Income and Capital Gains Tax should not be far behind in your priorities, however. Initially the personal representatives should focus on the income receivable and...

Super-Deduction nears the end!

Super-Deduction nears the end!

With the temporary Super-Deduction set to end on 31st March 2023, it is worth making sure your company is entitled to claim it before doing so. Points to note: Only companies can claim the Super-Deduction. Contracts entered into prior to 3rd March 2021 are not...

Autumn Statement 2022

Autumn Statement 2022

With the Governor of the Bank of England’s comments this month regarding interest rates and inflationary pressures over the next 18 months to 2 years, the Autumn Statement did not provide relief for the majority of UK taxpayers. Key Announcements Individuals The...

Successful Succession

Successful Succession

The last 15 years have certainly taught us how futile predicting the future can be. That does not mean that as a business owner you should not plan, but you need to make sure your plan can flex. Whether the future owners of your business are family members, internal...

Private Residence Relief and your home

Private Residence Relief and your home

Most of us do not give tax a second thought when selling our homes, but Private Residence Relief (PRR) which exempts a capital gain from taxation on sale, may not always be available to cover the gain in full. We have detailed below some of the situations which may...

A nerve-wracking time for landlords

A nerve-wracking time for landlords

The government seem to have timed their playground antics to coincide with the horrors of Halloween, adding to the economic woes of British landlords and tenants. Here we outline some interesting points for your consideration: Mortgage interest associated with...