• 21st August 2021

    Is your agricultural business trading losses?

    Following the government’s announcement in March, businesses that incur trading losses can now carry them back up to three years instead of the usual one. This temporary extension applies to trading losses made by companies in accounting periods ending between 1 April 2020 and 31 March 2022, and by unincorporated businesses in tax years 2020/21 and 2021/22.

  • 26th July 2021

    What capital allowances can LATCOs claim on properties?

    When purchasing a commercial building, it can be all too easy to lose sight of valuable capital allowances reliefs that may be available; this is what to look out for.

  • 16th July 2021

    Intestacy Rules

    New research suggests that 61% of people in the UK still do not have a Will. That is a lot of people who will be relying on the Intestacy Rules to deal with their Estate on their death.

  • 1st July 2021

    Ecommerce VAT Changes from 1 July 2021

    From 1 July 2021, the EU introduced substantial changes to the VAT rules around ecommerce. The changes will impact businesses making business to consumer (B2C) supplies of goods.

  • 29th June 2021

    Covid Relief and Furnished Holiday Lettings

    What Covid-related relief has HMRC granted for the Furnished Holiday Letting (FHL) industry? In short - nothing specific. However, there are two existing reliefs that can be used to preserve FHL status which then can lead to valuable CGT reliefs on a future business or property disposal.

  • 21st June 2021

    VAT & farm diversification

    There is no doubt that many farmers are currently considering ways they can diversify to mitigate the loss of BPS. How this may interact with your existing farming business can seem overwhelming. There are many taxes to consider, but one of the taxes that can often be overlooked is VAT.

  • 15th June 2021

    Just another Tax Return?

    As we are now well into a new tax year, those of you who complete a self assessment Tax Return will be starting the process of gathering the necessary information. No doubt the information required is similar to the previous tax year; however, this year there are a number of additional things to consider.

  • 27th May 2021

    New Superdeduction tax relief

    We certainly do live in ‘interesting times’ when central banks start to talk about the possibility of negative interest rates and governments start to give tax allowances on more than the cost of asset purchases.

  • 21st May 2021

    Declaring your Coronavirus Grants

    As you start to look at completing your 2021 individual, partnership and corporate Tax Returns, those in business will have an additional headache this year – making sure that any Coronavirus Grants are declared and taxed properly. So, to help, here is a guide for you.

  • 20th April 2021

    Reporting Capital Gains on Residential Property

    In April 2020, HMRC introduced a 30-day reporting requirement for disposals of a UK-situated residential property.  The same time limit applies to paying any CGT due.  Despite the new rules having been in place for a year, there is still confusion of when you should report, how and when you should pay any tax.