The Residence Nil Rate Band for Inheritance Tax provides a greater death nil rate band if an individual dies and leaves their family home to their children, grandchildren, step children or adopted children. The normal Nil Rate Band is increased from £325,000 to...
Many businesses run as partnerships, whereby a number of individuals will be involved in running the business. In this article, I am going to look at Partnership Agreements specifically for Farms. For farming partnerships, the following common factors will often...
New rules were introduced in April 2020 requiring that individuals who sell residential property on which CGT is payable must report and pay the gain to HMRC within 30 days of completion of the sale of the property. We are continuing to assist clients in meeting their...
Inheritance Tax is charged on the value of assets and two important reliefs are available in the form of Business Property Relief (BPR) and Agricultural Property Relief (APR) which provide an exemption at either 100% or 50% on qualifying assets. Business Property...
Following the introduction of the tax relief restriction on finance charges for residential lettings, we often receive enquires asking “should I incorporate my property rental business?”. The restriction which has been introduced restricts the tax relief...
The Cycle to Work Scheme is an incentive scheme offered by the Government which allows an employer to provide a bicycle to an employee without a benefit in kind being assessed. Normally, it will be combined with a salary sacrifice scheme, whereby the employee reduces...
