From January 2019, businesses considering investing more than £200,000 in plant and machinery may benefit from a change to the capital allowances rules, which should allow them to obtain tax relief at a much earlier time. Broadly, business profits, after any adjustments for tax purposes (for example depreciation of fixed assets), are reduced by capital…
Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the type finance costs that are eligible for relief. What qualifies for relief The basic rule is that relief is available for expenses that are incurred wholly or exclusively for the purposes of the…
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You have until 31st January 2021 to file your 2019/20 tax return if filed online. Paper returns are due by 31st October 2020. The tax year runs from 6th April - 5th April.
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