Tax Return Adviser Ltd
Newsletters
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HMRC confirms 20% rate to charge electric cars
If a business owns electric vehicles it might have previously been charged 5% VAT when they were charged at public places. HMRC has now issued a Brief advising that all supplies are subject to 20% VAT. What does this mean for claiming input tax?
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Tax deductions for a buy-to-let property
In between tenants a landlord is doing some work on a rental property. How they categorise this - repairs or improvements - determines whether or not they’re entitled to an income tax deduction. What factors should they take into account?
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Closing a business - tax on post-cessation sales
Poor trading over the last year was the final straw for a self-employed builder and he decided to stop trading. He’s looking for buyers for the business premises and other assets. What tax will he have to pay on the proceeds?
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Protecting the value of a home from IHT
The residence nil rate band (RNRB) can increase the amount of an estate that will escape inheritance tax. When can the RNRB apply and what steps can be taken to ensure that the beneficiaries benefit from the tax savings?
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How will the new 12.5% VAT rate affect businesses?
On 1 October 2021 a new VAT rate of 12.5% will be introduced for most sales made by a hospitality business. How will businesses need to deal with the rate change in their purchase records and what savings can be made using the tax point rules?
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Using CGT losses efficiently
An investor made capital gains from the sale of two assets and losses from the sale of another. The gains are taxable at different tax rates. Can they use the losses to reduce the higher rate tax or how should they be allocated?
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