When to report and pay capital gains tax

The current annual Capital Gains Tax (CGT) exemption for individuals is £11,700 for 2018-19. A husband and wife each benefit from a separate exemption. Same-sex couples who acquire a legal status as civil partners are treated in the same way as married couples for CGT purposes. CGT is normally charged at a simple flat rate […]

Allowable costs for property businesses

Costs that can be deducted by individuals that have a property rental business, depend on the type of property that is being rented out. There are three main categories of property business that need to be considered. Residential properties This is by far the most common type of investment property held by individuals. Tax relief can be […]

ISA – HELP TO BUY

The Help to Buy: ISA scheme launched in December 2015 and allows savers to claim a government bonus of 25% on monthly savings of up to £200 towards their first home. The bonus translates to: an extra £50 added to every £200 saved up to a maximum governmental contribution of £3,000 on £12,000 worth of […]