HMRC Clarifies Overlap Relief Calculation Process for Taxpayers
The article highlights HMRC's guidance on calculating overlap relief, a crucial aspect of the basis period reform effective from April 2023, providing insights for businesses, particularly sole traders and partnerships, to ensure accurate and timely submissions for a smooth transition...
The Significance of Optimal Business Structure in Property Development
The article advises property developers to consider their goals, resources, risk tolerance, tax obligations, financial goals, scale of projects, long-term plans, and professional assistance before deciding on the best business structure for their venture.
Sole Trader vs Partnership: Choosing the Right Business Structure in the UK
Choosing between a sole trader and a partnership is crucial for a new business in the UK. Sole traders maintain full control but face unlimited liability, while partnerships offer shared ownership and varied skills but involve complex setups and potential...
Transferring Property from Partnership to Limited Company
This article explores the tax advantages of transferring from a partnership to a limited company in the UK, highlighting benefits such as incorporation relief and potential stamp duty land tax relief.
