UK Tax on foreign income and gains If you are UK resident and UK domicile, you pay UK tax on your worldwide income on arising basis. If you are not UK resident there will be no tax to pay on your foreign income and gains. Only income and gains on properties [...]
Bounce back loans taken by close company director We have written a small blog on Bounce back loan in the accountingweb.co.uk. to learn more about it click on the link below https://www.accountingweb.co.uk/community/blogs/infoadamaccountancycouk/bounce-back-loans-taken-by-close-company-director To discuss how Accountants in Slough can assist you with your Accounts Preparation, please contact us for a free, no [...]
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 [...]
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