Category: Blog

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Our Plans for the Makesworth Foundation for 2024 are

We planted thousands of trees via Ecologi – 16,241 to date resulting in 137.95 tonnes of carbon reduction. We plan to continue doing this for the long-term planting thousands more trees! View Details » We undertook a wide variety of direct charitable events in partnership with local charities / local team members in both Nepal

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Letting the FHL for longer periods during the off-season

Letting holiday properties, particularly in coastal resorts, may have a strong seasonal bias, and when business is slow during the off-season, it can be tempting to let the property on a longer let. For example, a property could be let on short-term holiday lets over the summer months and on a six-month residential let during

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Can I deduct the higher interest costs of my new fixed rate mortgage?

Landlords coming to the end of their fixed rate mortgage deal are likely to be paying considerably more in interest when they remortgage. The extent to which tax relief is available for interest payments depends on the type of let, the type of property and whether the business is an unincorporated property business or operated

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Relief for pre-trading expenses

In setting up a trade it is inevitable that expenses will be incurred before the trade actually commences. Expenses may be incurred on acquiring premises and kitting them out, on buying stock, on office supplies, on professional advice, on marketing, on software, on setting up a website, on legal fees and suchlike. These can mount

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Get your overlap relief figure

If you have unrelieved overlap profits, you will not be able to claim relief for those profits after 2023/24. Overlap profits are profits that have been assessed twice – either in the early years of a business or on a change of accounting date. From 2024/25, unincorporated businesses will be taxed on the profits for

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Dealing with gift hold-over relief ‘nudge’ letters

HMRC are sending one-to-many ‘nudge’ letters to taxpayers who included an invalid claim for gift hold-over relief in their 2021/22 tax return. This may be because a separate claim form was not included with the return, or the claim form was included but not signed. If you receive such a letter, it is important that

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