Giving the property portfolio – moving property to close family
The implications and in particular the catches to avoid when moving property to close family members. Trap 1 - Stamp duty land tax: Gifts and debts One of the major traps involving stamp duty land tax (SDLT) can be caused when gifting property that is mortgaged....
Spousal dividends: Tips and catches
Issues to be knowledgeable about when paying dividends to partners. When a couple runs a business together with a minimal company, proper tax planning would certainly dictate that both partners very own shares to obtain dividends.Incomes may or may not be paid as...
Ten prominent tax-free benefits
Emphasizes of tax exceptions which can be used to provide tax-free benefits-in-kind to employees. The income tax legislation has a variety of exemptions for benefits-in-kind. By making use of exemptions, it is possible to improve an employee’s commission package...
Capital Gains Tax When Selling a Second Home in the UK
Selling a second home in the UK can be a financially rewarding experience, but it also brings with it important tax considerations, particularly in the form of Capital Gains Tax (CGT). Understanding how CGT applies to the sale of a second property is crucial for...
Extra ‘documents’! Reporting taxed benefits
Describing the reporting responsibilities for employers in relation to benefits-in-kind. If you (‘ you’ indicating an employer) gave your workers with taxable advantages in the tax year 2023/24, which you did not payroll, you require to report those...Our Average Score
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