01 Jul 2020

Business Asset Disposal Relief

Business Asset disposal relief which was previously known as entrepreneur`s relief is the relief given to individuals who are working as sole traders or partners and have owned the business for 2 years.

25 Jun 2020

Incorporation Relief

Incorporation tax relief is the relief given to individuals who transfer their unincorporated business (that is the business run as a sole trader or in a partnership) to a limited company.

24 Jun 2020

Section 24 Effect on BTL Property

Section 24 – In April 2020, the final stage of the section 24 was implemented. The implementation of section 24 which is also known as ‘tenant tax’ means that the finance cost will no longer be an allowable expense.

18 Jun 2020

VAT Deferral Payments

All the businesses who had their VAT payments deferred till 30 June 2020 need to take action now.

15 Jun 2020

The Inheritance tax planning and Covid-19

After world war two the inheritance tax raised to 80 pc. The current crisis that Covid-19 has created many are of the view that the inheritance tax percentage will rise in the following year. It would be wise if we carefully do some tax planning in order to save some money.

11 Jun 2020

IR 35 Extension postponed and what it means to you

As the businesses are disrupted due to the covid-19 crisis, the government had to postpone many reforms and the changes to IR35 which was due in April 2020 was postponed until next year.

05 Jun 2020

Work from Home Expenses and what can be claimed?

Working from home has become a new normal after the outbreak of the coronavirus pandemic.

03 Jun 2020

Property Prices drop can a Estate Agent still Improve their Businesses

According to nationwide, one of the leading mortgage lenders, the property prices dropped by 1.7% in May to £218.902. This is the biggest monthly drop seen in the past 10 years since February 2009.

01 Jun 2020

Extension of Government COVID Schemes for the Employer and Employees

Covid- 19 has shaken the whole world in every way. It has influenced our way of living, our social life, education which in turn has affected the economy of the world. This has led to unemployment and severe global recession.

27 May 2020

Coronavirus Bounce Back Loan Scheme

Since the announcement of the ‘Coronavirus Bounce Back Scheme’ in April, thousands of companies have applied for the loan and Billions of pounds have been lent to small and medium sized companies by the government.

22 May 2020

Starting an Online Business and Covid-19

The Digital Software Companies for video conferencing predicted a boom in the industry. But nobody knew that the boom will come as a result of the outbreak of covid-19.

19 May 2020

ISA Explained

Covid-19 has made us conscious about our physical health and also our financial health. It is seen that the individuals who are basic tax rate payer are more affected and being furloughed than the higher tax payer as the higher tax payer are the ones with more flexible jobs and they are still continuing with their work(from home).

Please see the Taxaccolega Chartered Accountants blog archive.

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