Tax Return Adviser Ltd
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CGT on the sale of a former holiday let property
You’re selling a property that until two years ago was let as holiday accommodation. Since then you, your family and friends have used it for the occasional weekend. Does the special lower rate of capital gains tax still apply to the gain you make?
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Accelerate tax relief for plant and machinery
The annual investment allowance (AIA) allows you a tax deduction for the cost of equipment for the financial year in which it’s bought. But it doesn’t always apply, meaning tax relief takes decades. How can you slash this timeframe?
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Drawing down a pension efficiently
You’ve reached the age when you can access your pension savings. Your financial advisor has explained the options available to you, but how much tax will you have to pay on each one?
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Home-to-work travel costs during a strike
During the recent rail strikes several of your employees made alternative travel arrangements to commute to work. To recognise their efforts you want to reimburse their extra travel costs. How should you account for any tax and NI on this?
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Buying property in a different legal entity
Your landlord has given you the chance to buy the freehold of your trading premises at a reduced price but will charge VAT on the deal. Should you buy the property in a different legal entity and, if so, what VAT issues does this create?
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Can you reduce your self-assessment payments?
If you’re in the self-assessment system you might have to make tax payments on account. These can total more than your actual tax bill. When and in what circumstances can you reduce these payments?
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