Tax Return Adviser Ltd
Monthly Focus
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MONTHLY FOCUS: INHERITANCE TAX PLANNING LATER IN LIFE
Inheritance tax (IHT) is perceived as one of the most unfair of all tax charges, as it’s levied on wealth accumulated during an individual’s lifetime, i.e. on income and/or gains that have probably already been taxed. It’s also due relatively soon after death, and as such can invoke strong feelings at an already difficult time. However, undertaking steps to reduce or remove the exposure to IHT is often left until relatively late. In this Focus, we start to explore strategies that are still effective later in life.
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MONTHLY FOCUS: MAXIMISING PRIVATE RESIDENCE RELIEF CLAIMS
Private residence relief exists to ensure that you don’t suffer a capital gains tax charge when you sell your home. In circumstances where there is only one property which has been occupied throughout the period of ownership involved, the application of relief is relatively straightforward. However, matters can become complicated. In this Focus we look at how relief works where there are periods of absence or multiple properties.
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MONTHLY FOCUS: STARTING TO THINK ABOUT VAT
The VAT registration threshold has been frozen at £85,000 since 2017. As a result, more businesses are having to register. In this Focus, we look at the key considerations for a business that needs to register, or one that may be considering doing so on a voluntary basis.
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MONTHLY FOCUS: PROFIT EXTRACTION 2022/23
The changes to dividend tax rates, as well as NI rates and thresholds in 2022/23 have left many small company owners struggling to apply the rules to ensure their profit extraction strategy is as efficient as possible. How can you ensure you aren't missing out?
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MONTHLY FOCUS: THE ENTERPRISE INVESTMENT SCHEME QUALIFYING CONDITIONS
The enterprise investment scheme (EIS) is a generous collection of tax reliefs aimed at encouraging private investment into relatively young companies. In this Focus, we look at the qualifying conditions relating to the investor and the issuing company that must be met in order for a claim for relief to succeed.
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MONTHLY FOCUS: TAX CONSIDERATIONS FOR BUY-TO-LET PROPERTY
Running a letting business is a very popular option. However, there have been a number of changes over the way that profits from property businesses are taxed in recent years. In this month's focus, we consider the tax considerations you need to keep in mind when buying property to let, and look at how the rental profits are calculated for tax purposes.
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