by ClearwaysAccountants | Nov 25, 2015 | Budgets and Autumn statements, Capital taxes, Landlords, Tax Tips
The Chancellor is hitting buy-to-lets and those who are thinking of purchasing a buy-to-let hard… In the Summer Budget he announced reductions in the amount of mortgage interest payments that can be deducted against your rental income. This plan remains...
by ClearwaysAccountants | Mar 19, 2015 | Business tax, Capital taxes, Contractor, Freelancer, Personal tax, Self Employment, Small business advice, Tax Calculators
Mr Osborne stated that this Budget, “backs small business owners and the self-employed”. In our view nothing of any significance has changed. The items that caught our eye for our small business clients were: Pension funds (again) The lifetime allowance...
by ClearwaysAccountants | Dec 17, 2014 | Budgets and Autumn statements, Business tax, Capital taxes, Freelancer, Self Employment, Small business advice, Tax planning
Changes on the rules when you transfer your freelance business to a company To date, a freelancer carrying out a trade could transfer his or her business to a Limited company. The business built up over the previous few years could be valued, not only are the...
by ClearwaysAccountants | Feb 3, 2014 | Capital taxes, Personal tax, Self Employment, Small business advice, Tax planning, Tax Tips
Who wants to pay tax? Well no one if it can be legally avoided! So what steps can you take before 5 April 2014 to reduce your capital gains tax bill? Use the annual exemption This may sound obvious but if you can select a few investments to sell that just use up your...
by ClearwaysAccountants | Mar 28, 2012 | Capital taxes, Tax Tips
Inheritance tax planning is usually something that we put off but if you die without a will the rules of intestacy will apply to your estate. Year-end tax planning tip 1 – make a will You can use the forms available from good stationers but if you have a...
by ClearwaysAccountants | Mar 26, 2012 | Capital taxes, Tax Tips
Not everyone thinks of capital tax planning but a little bit of tax planning can save you a lot of tax over the years. Capital tax planning is especially important if you are thinking of incorporating your business. Year-end tax planning tip 1 – annual exempt...