September 23, 2022
This morning, the new Chancellor, Kwasi Kwarteng, held his first fiscal event which is being called a ‘mini-budget’. As part of his announcement, he repeated details already announced…
September 22, 2022
In most cases, VAT incurred on the refurbishment of residential property is not recoverable. However, there are some instances where it may be possible to reclaim some of…
September 26, 2022
July 28, 2022
“For those restructuring property portfolios into limited companies, remember the benefits of multiple dwellings relief, i.e. the ability to transfer residential properties at much lower Land and Buildings Transaction Tax (LBTT) rates assuming 6 or more eligible properties are transferred at the same time.”
“The cost of materials can be permitted in R&D claims although only where those materials do not end up as part of a product or service sold for value.
Therefore consumable items within product testing will qualify for example.”
“Residency is an important factor when deciding which country a taxpayer should pay tax in and rules vary between countries. If you’re receiving foreign income and are a UK resident, you need to report your worldwide income in your UK tax returns.
Tax residence matters are important and neglecting issues when they arise can end up being incredibly costly. Speak to your accountant who can help with your worldwide tax position.”