Which is better for Inheritance Tax? Lifetime Gifts vs Transfer at Death
In this article, we will discuss strategies to navigate inheritance tax, comparing the benefits and considerations of making lifetime gifts versus leaving assets in your estate.
What are the Changes in Corporation Tax Rates from April 2023?
In this article, we delve into the upcoming changes in UK corporation tax rates effective from April 2023. The new structure introduces a small profits rate of 19% for profits up to £50,000, escalating to 26.5% for profits ranging between...
A Complete Guide to Non Resident Landlord Scheme
In this article, we discuss the Non-Resident Landlord Scheme (NRLS), a system where tenants or letting agents deduct tax from the rental income of non-UK residents.
HMRC Letters to Offshore Corporates – ATED
HMRC's campaign targets overseas companies with UK residential properties, urging disclosure of unpaid Annual Tax on Enveloped Dwellings (ATED) charges to avoid penalties and potential investigations.
Top 10 Tips for Avoiding Inheritance Tax in UK
The article discusses various strategies, including lifetime gifts, spousal transfers, exemptions, and the Residence Nil Rate Band, to minimize inheritance tax implications for those planning to transfer their estates to children.
VAT on Property: Transfer of Business as a Going Concern | TOGC
In this article, we explore Transfer of a Going Concern (TOGC) for VAT, a mechanism allowing business sellers and buyers to avoid significant VAT liability. We delve into the eligibility criteria, emphasising the importance of business continuity and specific conditions...
Do Landlords Qualify for The Home Office Tax Deduction?
This article discusses the opportunity for landlords managing a property business from home to claim a portion of running costs as a business expense. It explores methods such as AREA, TIME, or USAGE, and highlights the availability of simplified rates...
HMRC Nudge Letter to Offshore Corporates Disposing UK Property
This article addresses non-resident companies with UK property holdings, highlighting the receipt of HMRC letters seeking disclosure on property transactions. It emphasises the importance of responding based on tax compliance status to avoid penalties and investigations.
UK Autumn Statement 2022 Updates Not to Miss Out
This article discusses the Autumn Statement 2022 tax changes, covering adjustments such as a lower income tax threshold, reduced Dividend Allowance, a Corporation Tax hike, slashed capital gains tax exemption, continued Stamp Duty cuts, reversed National Insurance rise, raised allowances,...
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