How can you secure IHT business property relief? Any ownership of a business, or share of a business, is included in the estate for Inheritance Tax (IHT) purposes. However, a business can qualify for relief from inheritance tax. Business Relief reduces the value of a...
In April 2015 pension freedoms represented a major shift in how you can access your pensions. It means if you are aged 55 and over, you can take the whole amount as a lump sum and pay no tax on the first 25%. The rest is taxed as if it were a salary at their income...
It’s human nature to want to save money whenever realistically possible, and paying less in taxes is one way to achieve that. Figuring out what expenses are tax deductible, and the complexities of the tax system, can be a frustrating process. So, is business...
What is a Furnished Holiday Let? A Furnished Holiday Let is also known as an FHL. It is a certain type of rental property classification in the UK and Ireland (and some European countries). As a holiday let owner under this classification you are entitled to certain...
As a landlord you are entitled to claim a tax reduction on the cost of the equipment you use in property rental businesses. But do you know what landlord expenses can be claimed for rental property? Many of you are missing out on tax relief that you are within your...
The HMRC has been publishing draft legislation to restrict access to the employment allowance for a tax year to employers with secondary Class 1 National Insurance contributions (NICs) liabilities below £100,000 in the previous tax year. The new restrictions will...
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