Transferring property between spouses is a popular way of maximising rental income. Often, the owner will transfer the property if their partner is in a lower Income Tax band, as any rental income will be taxed at a lower rate, resulting in a better return on investment. Transferring ownership,
Read more →As we near the end of the 2018/19 tax year, now is the time to review your finances to ensure they’re structured as efficiently as possible. Here are a few reminders to help you maximise your finances through efficient tax planning. First of all, review your current
Read more →As companies continue to identify new funding streams, they rarely stop to think about how it might affect their existing funding streams, i.e. their annual Research & Development (R&D) tax credit claim. Grant funding can be used alongside R&D relief, but the rules are complex, and it
Read more →There is less than three months to go until Making Tax Digital transforms the UK tax system. If the new rules apply to you, it is essential that you prepare your business now to avoid a penalty from HMRC. Over the last six months, we’ve been working
Read more →Claims for R&D tax relief are on the rise according to new statistics released by HMRC, demonstrating that more businesses are seeing the value in the government incentive scheme. R&D tax credits were introduced in 2000 to encourage investment in innovation, allowing businesses to claim tax relief
Read more →According to a survey by the British Chamber of Commerce, two thirds of businesses say that VAT is their biggest administrative burden. With this is mind, we’ve put together a simple guide to help businesses get to grips with the basics of this rather tricky tax. What
Read more →Although there have been some calls for a delay to the scheme, with the pilot well underway and HMRC ramping up their awareness campaign, it is clear that it’ll be full steam ahead for Making Tax Digital come April 2019. So, with the rollout just a matter
Read more →Those aged 55+ now have increased freedom and flexibility around accessing their pension savings. Our clients often ask us whether they should withdraw money early from their pension. Whether you’re looking to withdraw a lump sum or you want a regular income, our Wealth Management Team are
Read more →If you’re burying your head in the sand about Making Tax Digital, you might want to start preparing for the upcoming changes, which are now only a matter of months away. Making Tax Digital is the government initiative which aims to transform the tax system, helping ensure
Read more →A company car is an excellent perk to give an employee. However, calculating the appropriate tax charge to pay to HMRC can be complicated. There are also considerations to make when choosing a vehicle, as those driving a car with high CO2 emissions will be penalised via
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