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…
- Chancellor extends furlough scheme until October
- Should I buy a rental property through a limited company?
- Calculating taxable profits using the cash basis
- Deferring your state pension
- Self-employed invited to get ready to make their claims for coronavirus (COVID-19) support
- VAT is scrapped for digital publications
- New 100% government backed loan scheme for small businesses
- Changing a will after death
- Annual investment allowances
- Take advantage of interest-free loans
Sign up for news, offers and free advice
Did you know?
WAGES PAID TO FAMILY MEMBERS: To reduce profits, consider employing members of your family who are not currently employed. They can use their unused personal allowance to cover the wages that you pay them. You can claim their wages against your profits. You must, pay them a competitive market rate for their services and only pay for the hours that they work for you. National Minimum Wage rules also need to be applied.
- My Tweets