(4 Minute Read) Post-Brexit VAT changes to importing goods. What’s changing about Import VAT? As a result of Brexit, new import tax rules need to be followed on goods imported from the EU. VAT must be applied on all imports from the EU of £135 or more, and it is applied at the time the… Read more »
Posts Tagged: Stamp Duty
What is Inheritance Tax?
(6 Minute Read) Protect your family from a huge tax bill What is Inheritance Tax? Inheritance Tax (IHT) is a tax charged on your estate when you pass on, but it can also be charged on transfers made during your lifetime. Failing to plan ahead could result in a large tax bill, making HMRC your… Read more »
New tax rate of 54.5%!
(2 Minute Read) Why you could be left with a 54.5% tax bill? What is it? In the Chancellor’s 2021 budget, Rishi Sunak announced a series of planned tax rises. The increase in corporation tax has resulted in an increased marginal rate for profits over £50,000. Depending on how your income is configured, you may… Read more »
Recovery Loan Scheme
(2 Minute Read) Borrow up to £10 million to recover from COVID-19. What is it? The Recovery Loan Scheme has been set up to help businesses of any size arrange overdrafts or loans of between £25,000 and £10 million. No personal guarantees will be taken on loans up to £250,000 and a borrower’s principal private… Read more »
New Restart Grant Scheme
(2 Minute Read) Up to £18,000 for your business to re-open! What is it? The Restart Grant Scheme has been designed to help businesses re-open safely through COVID-19, and opened on the 1st April 2021. Eligible businesses in the non-essential retail sector could be entitled to £6,000. Businesses in the hospitality, leisure, gym, and personal… Read more »
Stamp Duty on Second Homes
(2 Minute Read) How much Stamp Duty do I need to pay? What is it? Stamp Duty Land Tax (SDLT) is a tax paid when you purchase a property over a certain value. In April 2016 the Government added a 3% surcharge on SDLT for second homes. The 3% surcharge doesn’t apply to the total… Read more »