Capital allowances allow businesses to deduct the cost of certain necessary items, such as company vehicles and machinery, from total pre-tax profits. This could significantly reduce your tax bill, so make sure
Remember if you can hold these assets inside a tax shelter (ISA or pension) you’ll escape the sting of capital gains tax. Also remember that you have that annual capital gains tax allowance. So you won’t necessarily be liable for CGT just because you’ve sold some taxable assets and m...
From April 2017, UK real estate has been subject to UK Inheritance Tax (IHT), regardless of how it is held (for instance through a company or a trust) at a rate of 40 per cent after any applicable allowances and reliefs. The past few years have also seen various iterations of the ba...
For example, basic rate taxpayers can receive up to £1,000 of interest on savings and not have to pay tax on it, higher-rate taxpayers have a £500 personal savings allowance and for additional rate taxpayers it is zero. "Not only does this mean more tax on things like ...
WEBINAR: Charities SORP 2026: Proposed Changes and How to Prepare Posted on 1st May 2025 As we approach the end of the 2024/25 tax year, now is the perfect time to consider tax planning before we reach the April deadline. Year-End Tax Planning: Key allowances and strategies before 6 Ap...
- Capital Gains income. - Property Rental Profit. - Savings Interest and Redundancy Pay. - You can now select Scotland as a region for Scottish Tax calculations - other regions are also available for future devolution of tax rules to Wales and Northern Ireland. ...
Stocks and shares ISA: XTB now offers anISA, which I think is a fantastic recent addition. It means you can now invest without worrying about potential capital gains tax or other taxes. Another bonus is that XTB's ISA is free to hold unlike other platforms such asFreetradeorCMC Invest, ...
• View a pocket guide of key UK tax rates, limits and allowances, including Income Tax, National Insurance, Capital Gains Tax, Stamp Duty Land Tax and Pension Schemes • Email your results, including a breakdown of the calculation, for sharing or backup purposes CUSTOMER REVIEWS "There's...
’ changes to non-dom tax rules, in her October budget, is probably one of the main reasons that the 2024 Sunday Times Rich List has seen a 5.5% dip in the number of UK billionaires to one hundred and fifty-six; this was the largest decline seen in its thirty-seven-year history. ...
Small companies with profits under certain thresholds benefit from more favorable rates. The UK also offers various tax reliefs for businesses, including research and development incentives, patent box regimes, and capital allowances. UK-based multinational corporations can take advantage of the UK's ...