April 2020 changes to private residence relief

Dec 10, 2019 | Uncategorised

In July 2019 it was confirmed the government’s plans to: reduce the final period exemption from 18 months to 9 months (unless special circumstances where 36 months); and restrict the letting relief to cases where the owner is in shared occupancy. Both of these...

The NISA ISA

Apr 3, 2014 | General

ISA’s Isa’s are an easy to use tax shelter for investors. There are ISA millionaires out there who have obviously taken care to make sure they made use of the annual allowances and watched that the cash and stocks and shares elements are wisely invested...

Investing for Children

Jan 31, 2014 | Personal Tax

Child Trust funds and ISAs After 2010 no new Child trust fund bank accounts (CTFs) were allowed; instead children could have money invested on their behalf in a Junior ISA. Both accounts pay interest tax free and an annual maximum, currently £3,720 can be invested...

Tax breaks for married couples

Nov 22, 2013 | Personal Tax

Transferable tax allowances (TTA) won’t take effect until 2015/16 and even then the tax savings won’t hit you pocket until Summer of 2016. Who Qualifies Only married couples and civil partners will be entitled to TTA’s. Either you or your spouse must...

Simplified motor expenses

Nov 22, 2013 | Bookkeeping, General, Personal Tax

Simplified tax deductions were announced in the budget for accounting periods ending after 5 April 2013 in relation to profits taxable in 2013/14 for unincorporated businesses meaning self employed individuals and partnerships. However you should think carefully...