NEWSLETTER June 2020 Self-employed grants If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500. To qualify for this self-employed income support scheme (SEISS) you must meet all of these conditions: you traded…
NEWSLETTER Budget 2020 Surcharge on home purchases Stamp duty land tax (SDLT) is payable on the purchase of property in England and Northern Ireland; Scotland and Wales levy their own taxes for property purchases in those countries. The UK government wants to tackle the perceived problem of overseas buyers acquiring…
NEWSLETTER February 2020 Pay capital gains tax in 30 days If you are planning to sell a residential property this year be prepared to pay any capital gains tax (CGT) due within 30 days of the completion date. CGT has normally been payable by 31 January after the end of…
TAX BRIEFING December 2019 Gains from off-plan homes If you bought your home brand new and ‘off-plan’ you may realise a significant capital gain when you sell that property. This is not a problem if you occupied the property as your main home for your entire period of ownership. In…
TAX BRIEFING September 2019 Trading and miscellaneous income Most businesses start small with a few occasional sales. Only once the trader is convinced that they can deliver the product or service effectively do they launch their business properly. The issue is deciding when trading officially began for tax purposes: was…