The Christmas Party

For those of you who are organising a well deserved works party this Christmas we have sketched out below the current reliefs available: The cost of a staff party or other annual entertainment is allowed as a deduction for tax purposes. Also as long as the criteria...

Making Gains

Unless you qualify for Entrepreneurs’ Relief, all taxable capital gains in excess of the annual exemption, presently £10,100, would be taxable at 18%. There has been speculation that this rate will increase to discourage schemes to have income treated as capital...

Avoiding the high income tax rates

From 6 April 2010 the 50% income tax rate comes into play – for those with income over £150,000. For those earning over £100,000 personal allowances are withdrawn, creating an eye-watering marginal rate of 61.5% There are options. If you are concerned about the...

Property tax update

Business Rates Business rates became due on most vacant business property from 1 April 2008 when previously such properties were exempt from rates. In last year’s Pre Budget report the Chancellor announced an exemption from business rates for empty properties...