On 23 September 2022, it was announced that the Stamp Duty Land Tax (SDLT) nil-rate threshold on residential property would be increased from £125,000 to £250,000. Like the abolition of the 1.25 percentage point increase in NICs, the legislation to enact the SDLT change was already in progress when the U-turns to steady the financial…
Category Archives: Uncategorized
27
May
May
Lately a few of our clients have asked to clarify how much government support is available to their employees from the CJRS “furlough” grant scheme. The fourth version of the scheme started 1 May 2021 and will run until 30 September 2021. Eligibility from 1 May 2021 In order to be included in a CJRS…
13
Aug
Aug
i. PRIVATE RESIDENCE RELIEF Draft legislation to be included in the next Finance Bill will make important changes to the calculation of CGT private residence relief. As announced in the Autumn 2018 Budget, there will be a reduction in the final period exemption to just 9 months and stricter conditions for letting relief to…
HMRC are carrying out a review of rent a room relief to discover whether the scheme, introduced back in 1992 provides the right incentives for the rental market. The current scheme exempts from tax, gross rents up to £7,500 where rooms within the taxpayer’s main residence are rented out. Most accountants that responded to the…
16
Nov
Nov
Changing the direction of your existing business is challenging, hard and time-consuming work – and certainly not an enterprise for the faint hearted! But, on the flipside, when a chance is carried out well it can also be a highly rewarding and profitable move for you and your business. How, then, do you decide if…
16
Nov
Nov
Changing the direction of your existing business is challenging, hard and time-consuming work – and certainly not an enterprise for the faint hearted! But, on the flipside, when a chance is carried out well it can also be a highly rewarding and profitable move for you and your business. How, then, do you decide if…
28
Jun
Jun
Getting a better understanding of your tax liabilities is a fundamental tool in improving the financial success of your farm or agricultural business. As we highlighted in our previous blog, it’s vital that you have a clear focus on maintaining positive cash flow and have profitability built into your farm’s business model. And one of…
