CGT Late Filing Penalties
Reporting Capital Gains Tax (CGT) on UK property sales within 60 days of completion is crucial. Late filing incurs penalties, including initial fines, daily charges, and additional penalties based on estimated tax liability. Rates can vary based on behavior, with...
Lease Variation and Lease Surrender
Tax implications in lease variations hinge on who pays whom. Lessee payment for a favorable variation is capital expenditure, while lessor payment for lease surrender is a premium, with tax nuances based on lease terms. Reverse lease surrender yields lessee...
Partnership vs. Limited Company | Choosing Your UK Business Structure
Choosing between a partnership and a limited company is a pivotal decision when starting a business in the UK. This article outlines the key distinctions, advantages, and disadvantages of each structure. Partnerships offer a collaborative and cost-effective approach, while limited...
Buy to Let Limited Company: What You Need to Know
This article explores the Buy to Let Limited Company, detailing its setup, benefits, drawbacks, and serving as a guide for potential investors in this domain.
Incorporating Properties Into a Limited Company
Dive into the advantages and tax considerations of incorporating properties into a limited company in the UK. Learn how this strategy can benefit property investors and optimize tax efficiency.
Brace Yourself for HMRC’s New Interest Rates – Highest Since 2001
This article discusses the recent increase in late payment and repayment interest rates to 7.5% and 4%, respectively, following the Bank of England's base rate rise to 5%, with implications for various tax bills and the likelihood of further adjustments...
Freezer Shares & Growth Shares in Family Investment Companies
This article discusses the appeal of Family Investment Companies (FICs) to high-net-worth individuals, focusing on their role in tax and succession planning through the incorporation of growth and freezer shares for balancing current equity preservation and future value appreciation.
A Guide to Non-Resident Capital Gains Tax (NRCGT) in the UK
This article discusses Non-Resident Capital Gains Tax (NRCGT) for non-residents selling UK properties, covering both residential and non-residential assets, with a focus on key factors like acquisition date and valuation, emphasising the importance of meeting reporting and payment deadlines.
Family Investment Company vs Trust- Which is Beneficial For You?
This article discusses the growing preference among high-net-worth individuals for Family Investment Companies (FICs) in tax and succession planning, highlighting their advantages over trusts, including deferred inheritance tax, flexible funding options, lower tax rates on income and capital gains, and...
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