Blog

25 Sep 2020

How can I minimise my taxes on my property income?

There is a simple rule if you have income you have to report it to HMRC and if you have profits you should pay taxes.

18 Sep 2020

What are dividends and what taxes do I pay on them?

If you are running a limited company or about to start a business of your own you should be familiar with dividends.

11 Sep 2020

My parents gifted me their house. What taxes do we need to pay?

My parents are gifting me their home. Just want to know what taxes they have to pay and what will be my tax responsibilities.

09 Sep 2020

What are the tax implications if I put my money in a trust?

When you put money in a trust it no longer belongs to you.

07 Sep 2020

Discretionery Trusts

A discretionary trust is one of the trusts which can be set up by an individual to manage their assets.

01 Sep 2020

Selling Property - How to reduce CGT bill?

If you are selling property that is not your main residence you will qualify for the Private Residence Relief, This means that if you can prove that the property that you are selling was the private property and your main residence you won’t have to pay CGT on it.

28 Aug 2020

How can I Reduce my Capitals Gains Tax Bill?

When you sell something you make a profit on for example, if you sell your property, shares, personal possessions of more than £6000, or your business assets and they have increased in value you will have pay CGT on the gain.

27 Aug 2020

I have inherited shares - Do I pay any taxes?

If you have inherited shares, you won’t have to pay tax at the time of inheriting the shares.

20 Aug 2020

As a landlord, how will I be taxed on the Rental income and what tax deadlines should I be aware of?

If you are a landlord there are 2 possible ways you might be renting your property.

12 Aug 2020

My parents want to help me buy a house - what are the 2 options?

It’s a good chance for many first time buyers to buy a house. The stamp duty holiday till March has accelerated the sale of property and has encouraged individuals to buy property early. Those who had saved to buy houses next year are now planning to buy properties before March to make use of the stamp duty relief.

10 Aug 2020

Can I make gifts which are exempt from tax

If you want to give a gift you should consider who are you giving the gift to, what is the gift and when are you giving the gift.

29 Jul 2020

What do I need to do if I want to close my limited company

If you are thinking of closing your company you have to make sure that you are well aware of all the necessary steps that are required to close the company. This blog contains information that you will need if you want to close your limited company.

Please see the Taxaccolega Chartered Accountants blog archive.