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...
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...
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...
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...