Admin, Author at Signature Tax

Tax Cuts & Deferred Tax Bills

1st October 20201st October 2020 Admin

Tax Cuts & Deferred Tax Bills The Winter Economy Plan provides flexibility overpayment of VAT, personal tax bills and introduced a new Pay-as-you-grow scheme. There will be an enhanced time to pay arrangements for self-assessment tax bills due in January 2021. Taxpayers will be able to use HMRC’s online self-service application process to extend payments over a 12-month period. 1… Read More

Job Support Scheme & Support for the Self-Employed

1st October 20201st October 2020 Admin

Job Support Scheme & Support for the Self-Employed The Coronavirus Job Retention Scheme (CJRS) will draw to a close on 31 October 2020 and will be replaced with a new Job Support Scheme (JSS). This will be introduced from 1 November and will run for 6 months, in order to protect viable jobs in businesses who are facing lower demand over the… Read More

Non-Domiciles and Covid-19

2nd September 20202nd September 2020 Admin

Non-Domiciles and Covid-19 Non-residents have restrictions on the number of days that they may enter the UK based on their personal circumstances. COVID-19 may have seen unplanned returns to the UK or individuals not able to leave the UK, thus leading to an increase in an individual’s UK day count. The Statutory Resident Test does have a relief where days… Read More

Landlords – Tax Changes

2nd September 20202nd September 2020 Admin

Landlords – Tax Changes Mortgage interest relief As of 6 April 2020, landlords will no longer be able to claim any tax relief on mortgage interest and other financial costs which could result in a significant rise on personal tax bills. Landlords now will only receive a 20 per cent tax credit towards all financing costs. Capital Gains Tax Principal… Read More

Investors Relief

29th June 20202nd September 2020 Admin

Investors Relief A new capital gains tax relief for investments in qualifying shares of a trading company was introduced in Finance Act 2016. Investors’ Relief was introduced to provide an incentive for external investors to invest in unlisted trading companies over the medium to long-term. For a qualifying person selling shares, in order for investors’ relief to be available, the… Read More

Stamp Duty Land Tax (SDLT) – Probate Properties

29th June 202029th June 2020 Admin

Stamp Duty Land Tax (SDLT) – Probate Properties One of the biggest hurdles in these climates for businesses in property development is the Stamp Duty Land Tax (SDLT) payable on the purchase. However, there are reliefs that are available in relation to specific types of property such as probate properties whereby SDLT can be potentially avoided. Where a property trader… Read More

Entrepreneur’s Relief: The Changes

28th May 202029th June 2020 Admin

Entrepreneur’s Relief: The Changes Before the March Budget, there were growing fears that Entrepreneur’s Relief (ER) might be scrapped altogether. For many, a relief that it wasn’t. Entrepreneur’s relief survives, but with a different name – ‘business asset disposal relief’, with a much lower lifetime limit. The lifetime allowance has now been dramatically scaled back from £10m to £1m as… Read More

Property Tax Essentials: 30-day CGT deadline and PPR relief

23rd December 201923rd December 2019 Admin

From 6 April 2020, the new 30-day reporting and payment window will come into effect for sales of residential property where a capital gains tax (CGT) charge arises. A standalone return will have to be submitted to HMRC within 30 days of completion, along with a payment on account of CGT based on an estimated calculation of the gain. Disposals… Read More

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