Accountants in Slough

Deathbed Gifts Deathbed gifts, also referred to as donatio mortis causa, is a legal principle dating back to the Roman Times. The ‘mechanism’ allows individuals to make gifts which can only be received or take effect after their demise. This does not include the provision of the individual’s Will or the [...]

Tax Implications on Gifts At a glance: no taxes are due on gifts if you continue living for 7 years after gifting them, with the only exception being if that gift was given as part of a trust. This is referred to as the “7-year rule” in the UK. However, if [...]

Capital Gains Tax Relief for Ltd Companies and Individuals To put it very simply, capital gains tax (CGT) is a tax which is charged when you give away, sell, exchange or dispose of an asset for the purpose of making a profit or ‘gain’. It’s typically applicable to investment funds, shares, [...]

Furnished holiday lettings  Furnished vacation lettings are a special case for tax purposes, with a number of benefits not available when it comes to normal residential lettings. One of these advantages is the way the interest and finance costs are treated. Residential landlord – Restriction of relief Landlords of residential properties [...]

In Sept 2021, the HM Treasury published draft legislation and guidance for consultation in regards to a new residential property developer tax, which shall now be charged on profits of any companies involved in residential property development. The consultation ended in mid-October 2021, with the aim that the draft legislation will [...]

Tenants deposit treatments  When living on a premise, a tenant may have caused monetary losses and thus the landlord takes a deposit from the tenant in advance to cover the damages done by the tenant. Security deposit, rental deposit, damage deposit, these are some terms with the same sole purpose. Also, [...]