by Ruth Clark | Jan 2, 2023 | Business, Tax
If the company taking over gives you cash and shares you may have to pay Capital Gains Tax on the cash you get. If you get a small amount of cash You don’t pay Capital Gains Tax if both of the following apply: you get less than £3,000 or an amount less than 5% of the...
by Ruth Clark | Dec 28, 2022 | Business, Tax
It’s that time of year again – the shops are playing Christmas music, there are Christmas films starting to appear on the TV, and for many of us, there is a tax deadline looming, whether that is personal or for our business. This is the busiest time of year for...
by Ruth Clark | Dec 26, 2022 | Business, Tax
The UK Government understands businesses and self-employed individuals are currently facing a challenging economic environment, and that the transition to MTD for ITSA for the self-employed and small landlords represents a significant change for taxpayers. That means...
by Ruth Clark | Dec 21, 2022 | Tax
The 45% additional tax rate was briefly removed by Kwasi Kwarteng, then reinstated by Chancellor Jeremy Hunt, and in the latest twist, Mr Hunt announced that the point at which people would start paying this highest rate of tax would fall from £150,000 to £125,140...
by Ruth Clark | Dec 14, 2022 | Tax
Changes to the Capital Gains Tax (CGT) allowances announced in the Autumn Statement mean that from next April, the current £12,300 allowance will fall to £6,000 and then to £3,000 in 2024. This is a major concern for landlords with rental property, as this will make a...
by Ruth Clark | Dec 7, 2022 | Business, Tax
You could be forgiven for thinking Budget statements are a bit like buses lately – we don’t have one for ages, and then three come along almost at once. While the latest financial proclamation from the Government is known as the Autumn Statement, it is a Budget just...
