CGT

Property Income and Tax

CGT, IHT, Personal Tax, Property l

There are many ways to earn an income from property such as residential properties, furnished holiday lettings, commercial properties and renting out a room in your house.

The exact tax treatment and allowable expenses will differ depending on the type of property you own and your level of income.

Time to review your inheritance and trust fund arrangements?

Budgets, IHT, Investments, Pensions, Property l

Mortgage calculator. House, noney and document.

Thousands of families who set up “discretionary trusts” so they could leave property to children in a tax-efficient manner will miss out on the Government’s valuable new inheritance tax allowance unless they make significant changes to their will, it has been warned.

Homes left to children through a discretionary trust will not benefit from the “family home allowance”, worth up to £350,000 per couple from 2020, because assets do not pass directly to children. Discretionary trusts – the most common form of trust – were widely used in the past to minimise inheritance tax (IHT).

Are you next on the taxman’s hitlist?

Accounting, Auditing, Businesses, CGT, Corporation Tax, IHT, Investments, National Insurance, Payroll, Pensions, Personal Tax, Property, Shares, Tax/VAT Cases, VAT l

Arthur DaleyTax crackdowns have arrived thick and fast in the past three years. Officials have targeted everyone from doctors to Avon ladies to claw back £35bn lost in unpaid tax each year – and more inquiries are in the pipeline.

Accountants claim that HM Revenue & Customs focuses on “soft targets” through special task forces that investigate specific job sectors.

CONFIRMED – Accountants are sexy beasts

About Us, Accounting, Auditing, Budgets, Businesses, CGT, Clients News, Company Secretarial, Corporation Tax, CSR, Growth, IHT, Investments, National Insurance, Payroll, Pensions, Personal Tax, Property, Shares, Tax/VAT Cases, Uncategorized, VAT l

high-heels-and-thong-370x229According to the adulterous website, IllicitEncounters.com, accountants are the most exciting workers to go on dates with. Not because number crunching is a big turn on, but because their ‘boring’ jobs makes them more interesting in the bedroom, apparently.