This is where we keep you up to date with announcements by HMRC, share tips to help you save money and run your business.
Q1. I recently made an investment of £100,000 under the Seed EIS scheme. However, as I don't have much income in the current tax year, I am going to make a carry back claim. I have also read that there is a 50% CGT exemption available. Should I sell some ...
Read moreThe tax rules property businesses have changed considerably since 2010, for example the restriction of relief for financing costs to the equivalent of a basic rate tax reducer (at best). Almost all these changes have been made with the aim of making property letting less attractive. This makes it ...
Read moreThe enterprise investment scheme (EIS) is a collection of tax incentives aimed at encouraging private investment into younger trading companies. EIS is well established; however, the rules have been subject to various changes and additions over the years. In summary, the reliefs available on a qualifying investment are: ...
Read moreThe old low value import VAT threshold of €22 was abolished in June 2021. All exports (which now include sales of goods to the EU) are subject to VAT. Where the total value of the shipment doesn't exceed €150, the seller can opt to charge VAT at the point of sale ...
Read moreThe first tax sites in the Freeports announced at the Spring Budget have now been designated, meaning that businesses operating within them can now access some of the reliefs. The sites are located in three of the eight Freeport sites; namely Humber, Thames and Teeside as follows: - ...
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