Is a derelict property still a residential property for SDLT purposes?
Local accountants and tax advisers, Trueman Brown, advise homeowners of a recent case which considers whether Stamp Duty Land Tax is payable at the residential rates despite a property being in a bad state of repair The issue of whether a derelict a residential...
Relief for replacement domestic items
Local accountants and tax advisers, Trueman Brown, advise landlords that tax relief is available for the cost of replacing domestic items in furnished lettings, but not the initial cost. If you let a furnished property, it is very likely that you will need to replace...
Most Popular Expense Claimed By Landlords
Local accountants and tax advisers, Trueman Brown, advise landlords on the ten most popular expenses that they can claim against their rental income.. If you let out a property, you can deduct the business expenses that you incur when working out your taxable rental...
Tax implications of termination payments
Local accountants and tax advisers, Trueman Brown, advise struggling employers whether termination payments are non-taxable or not.. The number of businesses closing down is steadily increasing. Many of those businesses will have staff, therefore the legal and tax...
Would an Limited Liability Partnership be better for your business?
Local accountants and tax advisers, Trueman Brown, advise businesses to find out whether an Limited Liability Partnership is suitable for your business . When setting up in business, most people weigh up the pros and cons of operating as an unincorporated business or...
When is a VAT invoice not a VAT invoice?
Local accountants and tax advisers, Trueman Brown, advise businesses to find out what to do if the VAT registration number takes a long time to come. HMRC are currently taking an inordinately long time to issue VAT registration numbers. You used to be able to get a...
Family and personal companies – Optimal salary for 2023/24
Local accountants and tax advisers, Trueman Brown, advise directors of family and personal companies to take a small salary and extract further profits from a personal or family company as dividends is a tax-efficient strategy. Read this article to find out what is...
Taxation of dividends in 2023/24
Local accountants and tax advisers, Trueman Brown, advise taxpayers to find out how tax changes will affect the tax that you pay on your dividend income in 2023/24 If you have a personal or family company, taking dividends is a popular and tax-efficient way to extract...
Hybrid workers and relief for travel expenses
Local accountants and tax advisers, Trueman Brown, advise employees to find out how the rules governing travel expenses apply to them if they work under hybrid working arrangements. The pandemic changed the way in which many people worked, forcing them to work from...
Avoid the traps when providing eye tests for employees
Local accountants and tax advisers, Trueman Brown, advise employers to find out when the exemption for eye tests and glasses for display screen use applies Although the tax system contains an exemption for employer-provided eye tests and the glasses or contact lenses...