by AJN Accountants | Dec 29, 2022 | Property, Tax Planning
The annual tax on enveloped dwellings (ATED) applies where a residential property worth over £500,000 is held by a company and is not commercially let out or used for some other qualifying purpose. This tax currently starts at £3,800 per year but that starting rate...
by AJN Accountants | Dec 26, 2022 | Business, Tax Planning, VAT
The VAT registration threshold has already been frozen at £85,000 since April 2017 and it will now be fixed at that level until April 2026. The Chancellor made the point that the UK’s VAT registration threshold is more than twice as high as the average in OECD...
by AJN Accountants | Dec 6, 2022 | Advice, Business, Tax Planning
Companies can currently claim super-deduction allowances set at 130% of the cost of new plant and machinery or 50% of the purchase cost of certain fixtures and fittings for buildings. These super-deductions will expire on 31 March 2023. The annual investment allowance...
by AJN Accountants | Dec 1, 2022 | Property, Tax Planning
When buying a residential property in England or Northern Ireland you must pay stamp duty land tax (SDLT) if the purchase price exceeds a minimum threshold set at £125,000 since 2006. In September’s mini-Budget the then Chancellor announced that the entry...
by AJN Accountants | Nov 28, 2022 | Accounting, Advice, Property, Tax Planning
Capital gains made by individuals are generally taxed at lower rates to income and taxpayers benefit from a separate annual exemption that covers the first £12,300 of gains made per year. This exemption will be reduced to £6,000 for the tax year 2023-24 and then to...
