Calculations Business Plan

Tax Data 2019-20

  • 13 Dec 2018

All figures are annual amounts. Allowances Personal allowance £12,500 Tapered on income above £100,000 Transferable to spouse/civil partner taxed at 20% £1,250 Trading income £...

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VAT

Making tax digital and VAT

  • 13 Dec 2018

There were rumours before the Budget that the VAT registration threshold would be reduced, but the Chancellor has committed to hold it at £85,000 until April 2022. This will provi...

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Woman Calculating Tax

Business rates

  • 13 Dec 2018

High street shops and restaurants feel the burden of business rates acutely, as the tax does not reduce if their profits fall. The Chancellor announced some help for businesses who...

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Sold Sign

Relief for first-time buyers

  • 13 Dec 2018

Stamp duty land tax (SDLT) is payable at rates ranging from 2% to 12% when you buy a residential property for £125,000 or more. Higher rates apply to the purchase of second homes...

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New capital allowances

  • 13 Dec 2018

The government wants to encourage businesses to invest in plant and equipment to help them grow their operations and operate more efficiently. Where the cost of those items qualifi...

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Skyscraper

Rollout of IR35 rules postponed

  • 13 Dec 2018

Where an individual works through his or her own personal company to provide services, such as IT consultancy, that company must abide by the “IR35” rules, which HMRC c...

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British Money Notes

Tax cuts and cliff edges

  • 13 Dec 2018

There was good news for individual taxpayers in the Budget; the personal allowance will rise from £11,850 to £12,500 on 6 April 2019. This will provide taxpayers on the basic rat...

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Row Of Houses

Tax exemption for homes clipped

  • 13 Dec 2018

When you sell your only or main home, you expect any gain you make to be free of CGT. But that CGT exemption only applies if you have occupied the property as your main home for th...

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Tax Calculate

Entrepreneurs’ Relief Curtailed

  • 13 Dec 2018

When you sell a business or shares in your personal company, the gain made on that disposal will normally qualify for entrepreneurs’ relief which applies capital gains tax (C...

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Electric Car Charging

Company cars

  • 07 Sep 2018

Electric cars are creating a buzz in environmentally-conscious companies, and not just because of the noise they make. They are cheap to run and the price of many models is coming...

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