Month: November 2024

How Council Tax is calculated

To calculate your Council Tax, you need to know the following:

The valuation band of your property in England, Wales, or Scotland
The amount your local council charges for that band
Whether you qualify for a discount or exemption from the full

Changes to CGT Investors’ Relief

The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6 April 2026. Additionally, the lifetime limit for

Seven year rule still applies – IHT PETs

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person’s lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are given.

These lifetime gifts are referred to as

Gifts of land and buildings to charities

There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are met. There are also reliefs available where

Approaching the VAT registration threshold

When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC.

A business must register for VAT if:

their total VAT taxable

Landlords with undeclared Income

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding

What does EBITDA stand for?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It’s a widely used financial metric that provides a measure of a company’s operating performance, excluding the effects of financing, accounting, and tax decisions. By

What are your concerns?

According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are:

National Health Service (NHS): 85% of adults identified the NHS as a significant issue, reflecting widespread apprehension

Car and van fuel benefit charges from 6 April 2025

The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure the changes are reflected in tax codes for tax year 2025-26.

Where employees

What is a discretionary trust?

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the trust. The person who places assets into a trust is known as a settlor and the trust is for the