Super-deduction for capital allowance The government has introduced a new rule for the next two years on capital allowances, in order to encourage companies to invest on new plant and machinery assets by given 130% allowance on any purchase made between the 1st April 2021 up to 31th March 2023 known [...]
ATED return and charge for 2021 Annual Tax on Enveloped Dwellings (ATED) is a yearly tax charge payable by UK resident Companies that hold UK Residential property has a value at more than £500,000. You’ll need to submit an ATED return if the property: Regarded as dwelling, such as house or flat but [...]
SDLT - Stamp Duty Land Tax on UK Property Buying a residential property or transferring all or part of ownership to family member will end up paying stamp duty land tax. However, there is temporary reduced rate for the period of 8th July 2020 until 30th September 2021 any purchase or [...]
DEEMED SALARY - OFF-PAYROLL – IR35 – HOW DOES IT WORK- ACCOUNTING RECORDS If you are caught by IR35, you will have a different choice to choose from, in terms of work. Become an employee. Work under umbrella. This option is not advisable. Off-payroll through your Ltd Company Work as Self [...]
LET PROPERRTY CAMPAIGN If you are UK resident and have undisclosed income, then HMRC has introduced the scheme Let property Campaign to help landlords to declare any owed tax through letting out residential and not commercial properties in the UK or overseas to get up to date with their tax affairs [...]
CLAIMING VAT ON BUILDING A NEW HOME You can ask your builder to charge you zero VAT rate, or you can apply for VAT refund on building materials and services if you are. Building a new home or converting one. Building a property for non-profit or for a charity To claim [...]
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