Get ready for the next steps of Making Tax Digital
Essex Accountants, Trueman Brown, have some advice for businesses to get ready for MTD. Making Tax Digital (MTD) is a government programme to move to a digital tax world. HMRC’s stated ambition is to become one of the most digitally advanced tax administrations in the...
Stamp Duty Land Tax Refunds
Brenwood Accountants, Trueman Brown, advise landlords and property developers that they could get a refund of Stamp Duty Land Tax if the property was not fit for habitation. The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential...
Special Capital Gains Tax Rule for Spouses
Aveley Accountants, Trueman Brown, advise married couples about a special rule to reduce a capital gains tax liability. Although married couples and civil partners are assessed individually for capital gains tax purposes and each has their own annual exempt amount, a...
Pension Annual Allowance
Thurrock Accountants, Trueman Brown, have some advice for taxpayers who want to receive the maximum relief for paying pension premiums to a private plan. Tax relief is available to encourage individuals to make contributions to registered private pension plans....
HMRC May Demand VAT Security Deposit
Upminster Accountants, Trueman Brown, like to keep their client's up-to-date with the latest developments. The vast majority of businesses pay their tax bills on time however, any that are finding it hard to make payment in full and/or on time can contact HMRC to...
Relief For Losses In The Early Years Of A Trade
Basildon Accountants, Trueman Brown, like to keep their client's up-to-date with the latest developments. It is not uncommon to realise a loss in the early years of a trade. However, traders who commenced their self-employment in 2019 or 2020 may also have suffered as...
Limited Liability Partnerships
Upminster Accountants, Trueman Brown, like to keep their clients up-to-date with the latest developments. A limited liability partnership (LLP) is not a partnership but a body corporate with a difference - there are no shareholders or guarantors (as there would be for...
NIC and company directors
Essex Accountants, Trueman Brown, have some advice for employees who incur expenses in performing their duties. Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of...
SDLT Multiple Dwellings relief
Romford Accountants, Trueman Brown, like to keep their client's up-to-date with the latest developments. Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the ‘average value’ price (referred to as the ‘Average Value SDLT’...
Tax Relief On Loans To Close Companies
Basildon Accountants, Trueman Brown, like to keep their client's up-to-date with the latest developments. Family and personal companies are often ‘close’ companies. Broadly, this is one that is controlled by five or fewer shareholders or any number of shareholders all...