SDLT surcharge for non-residents
Stamp duty land tax (SDLT) applies to purchases of most land and buildings in England and Northern Ireland. Wales and Scotland impose different land taxes.
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TAX DEADLINE – 31 JANUARY 2021
The most pressing tax deadline for now is the main filing and payment deadline, of 31 January.
Investing in shares: personally or through a company?
Making Money from Shares Share investments can derive income in two ways. Firstly, income in the form of dividends and secondly from their increase in capital value that can be realised later on. It’s possible to invest directly and hold the shares personally, but what are the implications of using a company and is there…
Changes afoot for Capital Gains Tax?
In July 2020 the Chancellor of the Exchequer asked the Office of Tax Simplification (“OTS”) to carry out a wide-ranging review of Capital Gains Tax (CGT). The OTS has made a number of significant recommendations. Many of the recommendations are not new and many of them seem to involve reintroducing concepts in CGT that have…
Report your sale in 30 days
A new online system for paying and declaring CGT within 30 days of completion for sales of residential property was introduced from 6 April 2020. CGT online applies to all sales of UK homes where exchange and completion occurred after 5 April 2020. Sellers who are not tax-resident in the UK must report all UK…
Covid19: Tax Hikes and what you should do?
Tax – Tax has a long history in the UK, going back to the 13th century. Income tax was the first tax levied on people’s earnings in 1799.
Beware tax scams
HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. It was recently published that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year.
Landlords! When does the cash basis apply?
Read this blog post to find out more information on when cash basis applies.