Land Remediation Relief (LRR) offers a big incentive to businesses and land owners that bring contaminated and derelict land back to productive use. Introduced in 2001 and redesigned in 2009, LRR offers a relief on Corporation Tax equal to 150% of the qualifying expenditure that was incurred
Read more →Property developers could gain a lucrative tax break by using Entrepreneurs’ Relief, though there are several qualifying factors to keep in mind. Entrepreneurs’ Relief reduces Capital Gains Tax for individuals to just 10 per cent when disposing of all or part of a qualifying business. However, there
Read more →Owners and company directors can choose how and when to extract funds from their business. Yet with almost every extraction resulting in one tax charge or another, it’s important to understand how best to take money out of your business. Salary Taking all of your income as
Read more →Ministers have announced that they’re changing how they implement Making Tax Digital. Under the new rules and timetable, businesses will only have to keep digital records and update the taxman every quarter from 2020. Starting in 2019, businesses with a turnover above the VAT threshold, currently £85,000,
Read more →Manchester-based financial advisors, Champion Accountants, are urging business owners to ask more of their conveyancers when purchasing residential properties through their company as three of the firm’s clients have recently been affected. Whilst the stamp duty rules for individuals purchasing their second residential property is well-known, the
Read more →The implementation of the EU Fourth Money Laundering Directive will result in increased transparency of who owns and controls companies in the UK. The changes will affect the requirements to notify Companies House of changes in Persons with Significant Control (PSC). How will you be affected? From
Read more →Introduced more than a decade ago, the Flat Rate VAT scheme makes life easier for small businesses, removing complicated administration and providing a buffer between incomings and outgoings. Since 1st April there are important changes to the Flat Rate VAT scheme that could affect you. More than
Read more →Generating funds is crucial for SMEs eager to grow as finances can determine the scale, scope and speed of their expansion. There are a number of funding types on the market but entrepreneurs are often confused when a decision has to be made on what would best
Read more →Philip Hammond’s first Budget as the Chancellor of the Exchequer was a largely quiet affair with few major and out of the blue announcements. Here’s the key changes that could affect you: The tax free dividend allowance will reduce from £5,000 to £2,000 from April 2018 The
Read more →Following recent changes to Stamp Duty Land Tax legislation property developers are searching for alternative tax reliefs. Land Remediation Relief (LRR) offers a big incentive to all limited company developers that bring contaminated and derelict land back to productive use. Introduced in 2001 and redesigned in 2009,
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