More and more individuals are now renting out rooms in their properties through intermediaries such as Airbnb. Often, it will provide an easy way to generate additional income. Many individuals may not realise that there can be taxation implications in these...
The taxation implications of divorce will normally not be an initial consideration for the divorcing parties. However, the taxation rules can create unwanted liabilities and we would therefore recommend advice is obtained at the earliest opportunity. For Capital Gains...
On 30 November 2021, the Government released a number of documents and consultations giving a first look at proposals intended to be considered in the coming months and years. One of the major areas in which decisions were made was for Capital Gains Tax. The Office of...
Qualifying as a furnished holiday let still continues to provide additional taxation benefits when compared to normal renting. These taxation benefits include: Plant and machinery allowances can be claimed on furniture, equipment and fixtures. The profits count as...
Keeping on top of property taxes within the UK over the last year has been tricky for all. Our Senior Tax Manager, Lucy Orrow, published two video updates in May 2020 looking at Capital Gains Tax (CGT) reporting and changes to Principal Property Residence Relief (PPR)...
As Forensic Accountants, many of the instructions we take from solicitors, who use our services, relate to the delivery of a report on the tax implications of the disposal of properties within divorce proceedings. This is perhaps a reflection of the fact that so many...
