Navigating the World of Capital Gains Tax in the UK: Unveiling Key Insights
Wednesday 21st February 2024 Understanding Capital Gains Tax (CGT) is paramount for anyone navigating the financial landscape in the UK....
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Pro Tax Plus Accountants
Feb 16, 20221 min
We're not just some 'Average' Accountants...
At Pro Tax Plus, we are proactive in our approach, which means that we focus on more than just your bookkeeping and tax submissions. We...
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Pro Tax Plus Accountants
Feb 15, 20221 min
The new Self-assessment deadline for 20/21 is February 28th
You still have time to file your self-assessment tax return 20/21. The new deadline is February 28th! HMRC has extended the deadline for...
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Pro Tax Plus Accountants
Jan 7, 20212 min
Lockdown #3 Goverment Support for Businesses
Chancellor Rishi Sunak has announced another support package for the business which is mainly targeting those close during the lockdown...
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Pro Tax Plus Accountants
Jan 1, 20215 min
Minimising property profits in the pandemic
The article considers the scope for buy-to-let landlords to reduce their taxable profits in the current general financial difficulties....
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Pro Tax Plus Accountants
Dec 30, 20206 min
Unpaid tax bills: Easing the burden
This article explores the options available for those struggling to pay their tax bills. The Covid-19 pandemic has caused financial...
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Pro Tax Plus Accountants
Dec 28, 20202 min
Christmas gifting without the IHT sting
Ho ho ho…Christmas gifting, this article explains which gifts should be free from inheritance tax consequences this Christmas....
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Pro Tax Plus Accountants
Mar 21, 20201 min
Support for businesses through the Coronavirus Business Interruption Loan Scheme
Support for businesses through the Coronavirus Business Interruption Loan Scheme A new temporary Coronavirus Business Interruption Loan...
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Pro Tax Plus Accountants
Mar 21, 20201 min
Cash grants for retail, hospitality and leisure businesses
Cash grants for retail, hospitality and leisure businesses The Retail and Hospitality Grant Scheme provides businesses in the retail,...
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Pro Tax Plus Accountants
Mar 21, 20201 min
Support for businesses who are paying sick pay to employees
Support for businesses who are paying sick pay to employees We will bring forward legislation to allow small-and medium-sized businesses...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Give away £3,000 IHT-free each year.
There are various exemptions for inheritance tax purposes which enable a person to make tax-free gifts. One of the more useful is the...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Savings income – how is it taxed?
The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people are...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Subsistence expenses – using the benchmark scale rate
The option to pay employees flat rate subsistence expenses tax-free can be an attractive one; the employees are clear on what expenses...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Claim a deduction for pre-trading expenses
As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for...
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Pro Tax Plus Accountants
Dec 25, 20193 min
Inheritance tax – making tax-free gifts
There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free...
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Pro Tax Plus Accountants
Dec 25, 20192 min
`Relevant goods’ and the VAT flat rate scheme?
The VAT flat rate scheme is a simplified VAT scheme, which allows small traders (turnover of £150,000 excluding VAT) to account for the...
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Pro Tax Plus Accountants
Dec 25, 20193 min
Residence nil rate band
Residence NIL Rate Band and downsizing The residence nil rate band (RNRB) is an additional nil rate band, which is available where a...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Private lettings relief
Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Claim a deduction for work clothing
Many employees are required to wear a uniform for work. Even where there is no set uniform as such, many employees have clothes that they...
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Pro Tax Plus Accountants
Dec 25, 20192 min
Tax-free mileage allowances
Employees often use their own cars for work, usually claiming expenses in the form of a mileage allowance to cover the costs. While it is...
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