Statistics published by HMRC in August 2022 revealed that in the 2021/22 tax year, 129,000 taxpayers reported residential property disposal using HMRC’s online service, filing 137,000 returns in respect of 141,000 disposal and paying £1.7 billion in tax. However, an...
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Chancellor’s Mini Budget – What You Need To Know
On 23 September 2022, Kwasi Kwarteng, the new Chancellor delivered a Tax Cutting “Fiscal Event” or Mini-Budget to help boost economic growth. This was in line with promises made by the new Prime Minister Liz Truss when she was campaigning...
We Are Hiring – Accountancy Graduate Role
We are looking for additional full-time Accountancy Graduates for our growing Crewe and Newcastle-under-Lyme Accountancy offices. We are currently experiencing a period of growth and this is an exciting opportunity for a graduate to join our team. Candidates can be part...
Loans To Directors – Beware Of The Higher Section 455 Charge
Directors and shareholders in close companies are often able to influence the payments that are made to them. Broadly, a close company is one that is controlled by five or fewer shareholders. Personal companies and most family companies are close. In...
Tax Relief For The Expenses Of Running A Property Business
In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for the expenses of running a property business. Allowable expenses The general rule is that...