Feb • Advantages of Furnished Holiday Lettings

Feb • Advantages of Furnished Holiday Lettings

February • #04 Many of the recent changes in the taxation of buy to let rental businesses do not apply to property businesses that qualify as FHL. In particular the restriction on deductibility of finance costs that started to apply from 2016/17 does not apply to...
Feb • Exceeding the Annual Pension Allowance

Feb • Exceeding the Annual Pension Allowance

February • #03 If your pension savings exceed the annual pension input limit (generally £40,000) then there is an annual allowance charge. The effect of the annual allowance charge is to reduce tax relief on any pension saving over the annual allowance. The annual...
Feb • Did you get a BIG tax bill and now want some back?

Feb • Did you get a BIG tax bill and now want some back?

February • #02 Many of you will have just paid your 2016/17 tax bill before the 31 January 2018 deadline, and some of you will also have paid 50% of next year’s tax on account. Here are a couple of tax planning ideas that can help you obtain a tax refund. Invest in...
Feb • Does your accounts system comply with MTD for VAT?

Feb • Does your accounts system comply with MTD for VAT?

February • #01 Making Tax Digital (MTD) for VAT is scheduled to start in April 2019 which means that your VAT information needs to be submitted to HMRC digitally. On 18 December 2017, HMRC published draft legislation together with examples of how the business account...
Feb • Diary of Main Tax Events February & March 2018

Feb • Diary of Main Tax Events February & March 2018

February • DIARY Main Tax Events • February & March 2018 1st Feb: Corporation tax for year to 30/04/17 (unless quarterly payments apply) 19th Feb: PAYE & NIC deductions, and CIS return and tax, for month to 05/02/17. (due 22/02/18 if you pay electronically)...

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