August 2021 Tax insider

Included in this month’s article:

  • Lower stamp duty land tax threshold in place until October.
  • Employer costs increase as furlough scheme winds down.
  • Treasury seeks feedback on business rates revaluations.
  • Pensions tex traps catch out thousands more savers.
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Tax Planning for Residential Landlords

After a challenging year for the UK’s residential landlords, you might have read about improvements to the buy-to-let mortgage market in recent weeks.

In the three months to 31 May 2021, the average interest rates for residential landlords had declined. A two-year fixed-rate buy-to-let mortgage fell 0.10 percentage points to 2.95%, while a five-year fixed dropped 0.11 percentage points to 3.30%.

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Tax Insider July 2021

Included in this months article:

  • Sweeping VAT reforms in the EU will affect the UK’s online retailers
  • Families hit with big bills after believing gifts would not be taxed
  • OTS considers bringing the end of the tax year forward
  • UK tax incentive ‘fails to deliver extra R&D spending’
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June 2021 Tax Insider

Included in this month’s article:

  • Deadline approaches for SME Brexit support grant
  • Employers told to issue childcare voucher reminder
  • Directors bank mandatory climate credential disclosure plan
  • HMRC seeks to remove VAT repayment Supplement
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TAX IMPLICATIONS OF FURNISHED HOLIDAY LETS

Owning and letting out a holiday home, otherwise known as a furnished holiday let (FHL), has always been a popular way of investing and earning income.

Not only do FHLs enjoy many tax advantages over normal residential let properties, owners have an asset which they can use for holidays while it largely pays for itself.

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May 2021 Tax Insider

Included in this month’s article:

  • Super-deduction tempts 51% of manufacturers to invest
  • VAT-registered firms start using digital links under MTD
  • HMRC rolls out new measures to ‘Tackle CIS abuse’
  • Workplace pension contributions bounce back after slump
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April 2021 Tax Insider

Included in this month’s article:

  • Three month extension for business rates holiday in England
  • New recovery loan scheme replaces previous COVID-19 loans
  • VAT-registration and deregistration thresholds frozen until 2024/25
  • Treasury issues guidance on the final two self-employed grants
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March 2021 Tax Insider

Included in this month’s artice:

  • Opt-in to VAT deferral new payment scheme by 31 March 2021
  • Personal allowance and higher-rate threshold to increase 0.5%
  • Changes to prompt-payment code aim to end late payments
  • Record number miss self-assessment filing deadline due to COVID-19
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