When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax liability is not one that immediately springs to mind. However, there are traps that may catch the unwary. Income or capital When making a gift, it is important to ascertain whether the gift is being made out of income…
At first sight, the calculation of a capital gain or loss on the disposal of an asset is relatively straightforward – simply the difference between the amount received for the sale of that asset and the cost of acquiring (and, where relevant) enhancing it, allowing for the incidental costs of acquisition and disposal. However, as…
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- Should I buy a rental property through a limited company?
- Calculating taxable profits using the cash basis
- Deferring your state pension
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- New 100% government backed loan scheme for small businesses
- Changing a will after death
- Annual investment allowances
- Take advantage of interest-free loans
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Did you know?
Did you know you can rent a room in your home tax free? You can rent out a room of your main home (that you live in) and receive up to £7500 per year tax free.
That’s £625 per month or £144 per week.
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