Corporation tax – are you ‘associated’ companies?

Local accountants and tax advisers, Trueman Brown, advise local businesses that, from 1st April 2023, the corporation tax regime is changing. Under the new rules, the amount of tax a company pays will depend on the level of their profits and the number of associated...

Holiday lets – if the rules are not complied with?

Local accountants and tax advisers, Trueman Brown, warn local owners of holiday lettings that there may be consequences of not following the tax legislation. When it comes to letting property, not all are equal when it comes to tax – lettings that qualify as...

The Gamble – Paying CGT or IHT or BOTH on the gift of a property

Local accountants and tax advisers, Trueman Brown, advise landlords that if they are passing an investment property on to someone else, they can decide whether to take a CGT hit or have their beneficiary pay IHT. However, there is something of a gamble here – while...