Author Archives: McMillan Rose

Thinking of giving money or an asset away to a loved one before you die? Consider doing it now

There has been much speculation on what the Chancellor may or may not do in this March 2021 budget.  Most of the suggestions consider the necessity to clear the huge debt this country is now burdened with due to the pandemic.  Some tax planning may be too late now such as selling a second property […]

Are taxes set to rise for the middle-class and above?

With the debt increasing by the hour due to the Governments restrictions on trading businesses resulting from Covid-19, it is becoming very clear that the way the Government tries to balance its books must change.  One such way, suggested by the ‘Wealth Tax Commission’, is to charge a wealth tax on anyone who’s wealth is […]

Tax Considerations For Employees Working From Home

Did you send your employee home to work?  If so, HMRC have issued guidance which can be found here Generally, where expenses payments are made to, or benefits-in-kind are provided for, an employee they are deemed to have been made or provided by reason of that employment and are regarded as part of the […]

Getting Your Tax Relief on Commercial Buildings

If you are a company that will buy or construct a commercial property for use in your business then the Government has increased the yearly allowance.  The scheme is known as ‘The Structures and Buildings Allowance (SBA)’, and you can now obtain a flat 3% rate per year thereby obtaining full corporation tax relief over […]

Chancellor announces new Job Support Scheme and package of business support measures

The Chancellor, Rishi Sunak, has announced a new job protection scheme and a range of new business support measures. Announcing his Winter Economy Plan at a hastily arranged statement in the House of Commons, Mr Sunak said: “Our task now is to move to the next stage of our economic plan, nurturing the recovery by […]