Posts Tagged: entrepreneur

Understanding the Tax Implications of Transfer of Assets Abroad

What are the implications of transferring assets abroad if you own a Furnished Holiday Letting (FHL)? (3-minute read) We will cover: Tax reliefs you can get as an owner of a Furnished Holiday Let (FHL) Tax implications of transferring assets abroad What is Furnished Holiday Letting? An FHL is treated as a trading activity for… Read more »

Nil Rate Band for Inheritance Tax

If you want to leave gifts in your Will, you should stay informed about tax considerations. Today, let’s look specifically at the nil rate band. (6-minute read) We will cover: The different types of nil rate band that affect Inheritance Tax How to leave gifts while minimising tax liability Nil Rate Band 2023 What happens… Read more »

Why You Desperately Need a Business LPA

In this article, we walk you through the benefits of setting up a Business LPA – which can be an invaluable document to safeguard the future of your business. (6-minute read) We will cover: How a Lasting Power of Attorney protects your business Why you should plan ahead in case of mental or physical incapacity… Read more »

Non-Residential Stamp Duty: Paddock Ruled as Such in Recent SDLT Case

Non-residential stamp duty land tax (SDLT) rates offer a significant advantage over residential rates for costly properties, prompting buyers to explore ways to leverage these lower rates. In a recent high-profile case involving Mr and Mrs Suterwalla, their property’s separate paddock challenged the prevailing notion of what qualifies as “garden or grounds” for SDLT purposes…. Read more »

Stamp Duty On Mixed Use Property

Stamp Duty Land Tax (SDLT) is an important consideration when purchasing a property, especially when dealing with mixed-use properties that combine residential and non-residential elements. In this blog post, we will explore the concept of mixed-use properties for SDLT purposes and discuss the specific considerations related to Stamp Duty on such properties. (3-minute read) We… Read more »

Stamp Duty Refund On Uninhabitable Property

Here’s a scenario that could get you a Stamp Duty refund that you might not be aware about. (2-minute read) We will cover: What makes a property ‘uninhabitable’ The rules surrounding Stamp Duty refunds for uninhabitable property Here’s an important topic that could significantly impact your property investments: potential Stamp Duty Land Tax (SDLT) refunds… Read more »

Stamp Duty Multiple Dwelling Relief

If you’re considering a purchase of multiple properties, read our comprehensive guide on Stamp Duty Multiple Dwelling Relief. (6-minute read) We will cover: The list of criteria to be eligible for Multiple Dwellings Relief (MDR) How your Stamp Duty will be reduced by this relief Stamp Duty Multiple Dwellings Relief: Granny Annex  Are you considering… Read more »

Transferring Shares to Family Members: A Comprehensive Guide

Are you a private company owner? Our guide will help you understand the tax implications of transferring shares to family members. We’ll explain the taxes you might need to pay, and talk about any tax breaks you could get. (6-minute read) We will cover: The tax implications of transferring shares to family members How these… Read more »

Unlocking the Value of Capital Allowances on Fixtures and Fittings

The fixtures and fittings within your office, Furnished Holiday Let or commercial property may provide you with invaluable savings that could be used to grow your business. On today’s Tax Tip, find out how to claim capital allowances on fixtures and fittings. (4-minute read) We will cover: What are fixtures and fittings, plant and machinery… Read more »

Can You Transfer Property to Limited Company Without Stamp Duty?

If you’re considering whether it is wise to transfer property to a limited company, and about the Stamp Duty implications of doing so, read our in-depth explanation. (5-minute read) We will cover: How Stamp Duty is calculated when you buy property through a company The scenarios in which you might benefit from transferring property to… Read more »