What is the most tax-efficient way to property buy-to-let ownership? Personally, or via a company? What are the income and Corporation Tax, CGT, IHT, ATED, SDLT or VAT issues? With tips on profit extraction and other planning points, case studies and links to further guidance. (Read Time: Approx. 4 minutes) Topics Discussed: Corporate money box/alternative… Read more »
Posts By: ilyas Patel
Inheritance Tax Calculator for Married Couples and How To Pay Less
Inheritance Tax (IHT) plays a crucial role in estate planning. It can be challenging to determine when it applies and the rate at which it’s charged. With our guide, navigating the complexities of IHT becomes more manageable. Read on through this week’s Friday Tax Tip to learn about the Inheritance Tax Calculator for Married couples,… Read more »
Gifting Company Shares: Family Benefits, Tax Savings
When gifting private company shares to your family members, there are several intricacies to consider. Today, we will discuss the tax implications that come along with gifting company shares. Explore the reliefs that can potentially apply to navigate this process effectively and save you money. (3-minute read) We will cover: Overview of Gifting Company Shares… Read more »
Parent’s Guide to Tax Planning for University
When your children go to university, you may wish to financially support their journey into adulthood. Many parents will need to be aware of the tax implications when fully financing their children’s fees, bills, and rent. In this guide, we will discuss tax planning for university, and how you can find the most tax efficient… Read more »
Generosity = Substantial Tax Savings
Typically, the last person to come to mind when thinking of generosity is the Taxman, who’s mere mention turns up the nose of most. But the rich and famous have been using these tactics for years. We explore the substantial tax savings when giving to charities, and the incentives for you to show your generosity,… Read more »
Tax-Smart Tactics for Entrepreneurs
For business owners and entrepreneurs, managing taxes can make a big difference in profits. This article provides easy-to-follow tax tactics for keeping more of what you earn. Dive in to learn straightforward methods for boosting your financial success. (4-minute read) We will cover: Salaries and remuneration Directors often opt to pay themselves a salary to… Read more »
Gift Property ➝ Pay Less Tax
When gifting property to family members, it’s vital to consider the tax implications. The process might appear straightforward initially. Yet, the intricate nuances of tax regulations can lead to unforeseen tax consequences. (6-minute read) We will cover: Capital Gains Tax (CGT) Gifting property within a family entails crucial tax considerations, especially concerning Capital Gains Tax… Read more »
Plant and Machinery: Definition
What’s the definition of ‘plant and machinery’? Find out on today’s tax tip. (3-minute read) We will cover: Some examples of plant and machinery items How they relate to claiming business expenses Plant and machinery definition Plant and machinery is a broad term that refers to the items you can claim using capital allowances. They’re… Read more »
Can A Furnished Holiday Let Claim Capital Allowances?
If you own a Furnished Holiday Let (FHL), you’ll be able to highly benefit from claiming capital allowances. (4-minute read) We will cover: The tax benefits of claiming capital allowances for FHL owners The rules surrounding capital allowance claims Furnished Holiday Let Rules But what qualifies as an FHL? To start with, it’s seen as… Read more »
Capital Allowances On Commercial Property
If you own commercial property or even a Furnish Holiday Let (FHL), you can benefit from capital allowances. Find out more and start saving on tax! (5-minute read) We will cover: The legislation surrounding capital allowances Why so many commercial property owners fail to claim Definition Capital allowances are a type of tax relief that… Read more »