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
Mar 21, 20201 min
CORONA - COVID-19: support for businesses
CORONA - COVID-19: support for businesses PLEASE FOLLOW OUR PAGE FOR REGULAR UPDATES FOR OUR CLIENTS, INCLUDING GOVERNMENT SUPPORT FOR...
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Pro Tax Plus Accountants
Mar 21, 20201 min
VAT payments deferral - Corona Covid-19 Update
VAT For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. Eligibility All UK businesses are eligible. How to access the...
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Pro Tax Plus Accountants
Dec 25, 20193 min
Take advantage of the Annual Investment Allowance
The annual investment allowance (AIA) allows businesses to obtain an immediate deduction against profits for capital expenditure up to...
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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, 20193 min
Getting ready for MTD for VAT
The start date for Making Tax Digital (MTD) for VAT is fast approaching – from the start of your first VAT accounting period beginning on...
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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
Cash basis for landlords – when does it apply?
The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and...
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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, 20193 min
Tax-free Christmas parties
Tax-free Christmas parties Although the tax legislation contains an exemption to prevent employees from suffering a benefit-in-kind tax...
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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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