Capital gains tax implications of selling the buy-to-let
There may come a time when a landlord no longer wants to hold a buy-to let property and puts the property on the market. When selling an investment property, such as a buy-to-let, it is important to be aware of the capital gains tax implications, and also the changes that came into effect from 6 April 2020.
Many companies are experiencing financial difficulties brought about by the coronavirus pandemic and there will be many instances where directors and shareholders will be considering waiving their right to company dividends and/or remuneration. Whilst this can be a straightforward process, there are certain administrative obligations that will need to be attended to.
Check your tax code – And what to do if it is wrong
The tax code is fundamental to the operation of the PAYE system. The tax code represents the allowances (or ‘tax-free pay’) to which an employee is entitled, or, where the code is a K-code, the additional income that the employee is treated as having received.
Deferring self-assessment POA – Is it is good idea?
To help those suffering cashflow difficulties as a result of the Covid-19 pandemic, the Government have announced that self-assessment taxpayers can delay making their second payment on account for 2019/20. The payment would normally by due by 31 July 2020.
Makesworth is proud to be officially partnered with not one but three digital-only banking apps. Tide, Revolut and Starling Bank all set themselves apart from traditional banks with a focus on technology, low fees and flexibility.
Thanks to all parties who assisted us with the partnership process.
VAT changes for the construction sector delayed again
The VAT rule changes for building contractors and sub-contractors that were expected to come into effect on 1 October 2020 have been delayed for a further 5 months until 1 March 2021. The delay is due to the impact of the Coronavirus pandemic.
If you would like to discuss any of these articles in more detail, please call us in the office.
Sanjay is the founder of Makesworth Accountants and has a huge impact in transforming the firm into a fast-growing business. He sits in ACCA Practitioner’s Panel Network and has been interviews by ACCA as an influential figure for his enthusiasm for wanting to make a difference and influence younger generations.
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