Articles Tagged ‘Tax advice’

"Rent a room" relief to continue for Airbnb landlords

RWBairbnb_taxplanning

Last year HMRC carried out a review of "rent a room" relief and it was proposed that the availability of this generous relief would be restricted to situations where the taxpayer was resident for at least part of the time when the “lodger” was paying rent.

Are you aware of the latest tax exemptions? 

A staff summer party can be a tax-free benefit!

RWBsummerparty_taxplanning

Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit if certain conditions are satisfied.

Are you maximising your benefits?

Are you ready for Brexit?

As the media coverage of brinkmanship and negotiation with the EU reaches fever pitch, business owners are pondering the realities of the country's impending departure from the EU. This huge political event will influence our economy and way of life, but how will it affect you and how you run your business, and are you ready for the change? Read our latest article to find out more...

Buying new business equipment before 6th April? You could be entitled to Tax Relief

RWBimage_taxplanningequipment

Your business year end, not 5th April, is relevant for capital allowances purposes. However, if you are running a business and making up accounts to 31st March or 5th April, you should consider buying plant and machinery to take advantage of the Annual Investment Allowance (AIA). Read more to find out how you could be entitled to tax relief.

Buying new equipment for your business before 6th April 2020?

RWB_Buying_New_Equipment_For_Your_Business_Before_6th_April_2020

Your business year-end, not 5th April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April you should consider buying plant and machinery to take advantage of the £1 million Annual Investment Allowance (AIA). Read on to find out more...

CGT letting relief restriction

RWB_CGT_Letting_Relief_Restriction

Currently letting relief provides up to a £40,000 deduction in computing the capital gain on the disposal of a property that was at some time the taxpayer’s main residence.

Read on to see how it works. 

CGT private residence relief changes

RWB_CGT_Private_Residence_Relief_Changes

Draft legislation to be included in the next Finance Bill will make important changes to the calculation of CGT private residence relief. 

Read on to find out more. 

CORONAVIRUS: More time to pay tax due on 31st January 2021

RWB_Blog_More_Time_To_Pay_Tax_Due_On_31st_January_2021

Those taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can agree more time to pay with HMRC provided the amount outstanding is no more than £30,000. Read our latest article to find out more...

Don’t miss the Self Assessment deadline – hire a bookkeeper

RWB image_Tax planning

It might seem a simple case of doing a few sums but keeping on top of your paperwork takes time and accuracy. It’s not just about processing receipts, sales invoices and expenses and entering them into an online, cloud-based software package such as Xero, it is also about knowing how. For sole traders and the self-employed, 31 January is forever circled on the calendar, for that is the deadline to file a Self-Assessment tax return. 

Are you prepared?

Extraction of profit from your family business

RWB image_Tax efficiencies for family businesses

A new tax year brings with it new challenges for directors of family companies as they consider how best to make tax efficiencies when it comes to paying themselves. Read on for things to consider when extracting profit from your family business.

FARMERS: Brexit - It's a deal!

RWB_Blog_Farmers_Its_A_Deal

On the 24th December the Government delivered a much needed deal with the EU over our future trading relationship with our largest export market, but what changes will be coming into place for farming and agriculture? Read our latest article to find out..

FARMERS: Is now a good time to invest?

RWB_Blog_Farmers_Is_Now_A_Good_Time_To_Invest

With the prevailing uncertainty of what terms will be in place on our departure from the EU, is now really the best time to be making investments? Read our latest article below to find out all our top investment tips for the industry... 

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