Advisory Services Description
Please find below all the articles that have been tagged as 'Advisory Services'.
Once the dust has settled on what was a radical far reaching budget by Chancellor of the Exchequer George Osborne, one of the more unexpected changes was the reform that will be brought in to change the way that property landlords will be taxed in future. There were several changes which we will examine in this blog
Tax relief on mortgage interest
Currently where a loan or mortgage is taken out to purchase, or renovate an investment property full tax relief…
Read MoreA question we are often asked is, how can I reduce my tax bill?
A simple question on the face of it, but how simple is the UK tax system?
An income taxpayer might reasonably assume that there are only three rates of tax within the UK, basic rate tax at 20%, higher rate tax at 40% and the additional rate at 45%, and they would technically be correct. However the reality of the UK tax system is that your personal circumstances…
Read MoreIf you have not made arrangements to settle your outstanding self-assessment tax, which was due for payment on 31 January 2015, penalties could be levied by HMRC. In order to avoid a 5% surcharge being levied on your balancing payment for 2013/14, payment will need to be made no later than 2 March 2015. HMRC is taking a very stringent approach with taxpayers with little clemency for late payment. The easiest method to settle the outstanding tax is via…
Read MoreMorgan Hemp is proud to announce the launch of its ground-breaking smartphone app.
The app, allows individuals and businesses to log their expenses, keep on top of important dates in the annual tax calendar — and in light of recent changes to the VAT system — to accurately log business mileage.
The free app uses the smartphone inbuilt GPS system to allow users to generate a report at the end of each month that can be sent directly on…
Pension holders are being urged to seek advice on their pensions as radical changes to tax allowance are set to take effect.
Reductions to the threshold available for relieved annual allowance and lifetime allowance for pensions will take place from the 6th April 2014, and are anticipated to impact over 300,000 UK pension savers.
The annual allowance for pension tax savings will be reduced from £50,000 to £40,000 in the coming weeks, with any sum over the new £40,000 limit liable to taxation at the rate of 40 per cent.
The…
Read MoreCommercial property owners are being urged to seek advice on vital tax relief that could save their business thousands before it is too late.
Reforms outlined in the Finance Bill 2012 take effect in April and will dramatically change the qualifying criteria for businesses to make claim to capital allowances on properties that they own or have significantly improved.
Most businesses and accountants claim capital allowances for computers, vehicles and tools of the trade, however, many do not recognise that these same allowances also apply to central heating, lighting and…
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