For capital gains tax purposes, not all chattels are equal. In some cases, it is possible to realise a profit on the disposal of a chattel and enjoy that profit tax free, whereas in other cases, capital gains tax must be paid. It all depends on whether the chattel is a wasting chattel or a…
- Tax relief on business-related loans
- Directors’ loans – Beware of ‘bed and breakfasting’
- Can we deduct entertaining expenses?
- Zero charge for zero emission cars
- How to calculate your payments on account
- Beware of triggering an IHT bill on Christmas gifts
- Buying a property to let – the importance of keeping records from day one
- Domestic reverse VAT charge for building and construction services
- Nominating your main residence
- Family member pension contributions
Sign up for news, offers and free advice
Did you know?
PRE-TRADING EXPENSES: Certain pre-trading expenses can be deducted from your first year’s trading. For it to be allowable it must have been paid ‘wholly and exclusively for the purposes of the trade’.
- My Tweets