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In: Tax Updates

SDLT and uninhabitable properties
15th October 2021

SDLT and uninhabitable properties For many the lure of a renovation project is strong and for those looking to generate rental…

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Furnished holiday lettings and interest costs
15th October 2021

Furnished holiday lettings and interest costs For tax purposes, furnished holiday lettings are something of a special case and benefit from…

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Special capital gains tax rule for transfers of assets between spouses
13th October 2021

Special capital gains tax rule for transfers of assets between spouses Although married couples and civil partners are assessed individually for…

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Paying inheritance tax in instalments
12th October 2021

Paying inheritance tax in instalments Where inheritance tax is payable on an estate, it must normally be paid by the end…

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Tax-efficient childcare
11th October 2021

Tax-efficient childcare Childcare is expensive; however, the tax system can provide a helping hand. In recent years, there has been a…

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Are you trading?
8th October 2021

Are you trading? Trading income is taxed for both income tax and corporation tax purposes. In order for a tax charge…

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Disposing of an asset on which capital allowances have been claimed
8th October 2021

Disposing of an asset on which capital allowances have been claimed Capital allowances are the tax equivalent of depreciation, and the…

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Avoiding an investigation: How does risk assessment work – what do HMRC look for?
6th October 2021

Last year apart, the number of tax enquiries is on the increase; the reason is not because more taxpayers are seeking…

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Stamp duty land tax refunds
5th October 2021

The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more…

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Distributions on cessation of a company
1st October 2021

Distributions on cessation of a company When a company closes down, it may have accumulated monies or assets that need to…

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Bitcoin
How is Cryptocurrency Taxed?
28th July 2021

What is cryptocurrency and how does it work? This is a very complex question! For an in depth guide we highly…

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Property: Subject to Tax
Top 10 Tax Considerations for Property Businesses
7th July 2021

Introduction to Property Tax Our clients here at The Peloton work incredibly hard to make their businesses a success. Few, however,…

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Should I buy an electric car through my business?
10th May 2021

What are the benefits of buying an electric car? The Government is committed to encouraging the purchase of electric cars. One…

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Should I Incorporate?
4th May 2021

Introduction One of the most common questions we at The Peloton are asked is, “should I incorporate my business?” Read any…

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Tax: Cutting Through The Complexity
31st March 2021

Since joining The Peloton a month ago I have been lucky enough to meet with many of our lovely clients, talking…

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A picture of Petronas Towers where many non residents pay capital gains tax
Non UK Resident – Capital Gains Tax
3rd February 2020

Non UK resident individual? Here’s what you need to know about recent Capital Gains Tax changes. Are you looking for help…

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Changes to construction industry VAT October 2019 featured image of a builder
UPDATED Changes to construction industry VAT effective from 1st of October 2019
9th September 2019

UPDATED HMRC announced on 6th September 2019 that the implementation of the reverse charge would be delayed. They stated that “Industry…

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Changes to Capital Gains Tax payments Effective from April 2020
5th August 2019

New rules from HMRC will mean that buy-to-let landlords and second homeowners will have to make capital gains tax payments sooner…

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How To Get Your SA302 Tax Calculation 2019
29th July 2019

What is a SA302 tax calculation? An SA302 is a response from HMRC which is only issued to those who file…

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A research who could benefit from R&D Tax relief
Can you claim R&D Tax Relief?
12th July 2019

Most eligible Business Owners Are Not Aware That They Can Claim R&D Tax Relief According to recent statistics, 51% of British…

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R&D Tax relief header image of a pin board
What is R&D Tax Relief And Am I Eligible?
12th July 2019

What is R&D Tax Relief? R&D tax relief supports companies that work on innovative projects in science and technology. It can…

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ATED article header image of a house and keys
ATED and the ATED-related CGT Charge
4th July 2019

What is ATED? First implemented on the 1st April 2013, the annual tax on enveloped dwellings (or ATED for short) is…

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Why purchasing a vehicle on Hire Purchase is the most tax efficient option
3rd July 2019

Hire Purchase (HP) agreement is the most tax-efficient option when it comes to the purchase of any equipment, including cars and…

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CIS Tax Advice
28th June 2019

The construction industry is a specialist sector, and as such, it has its own unique tax codes and laws that need…

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Information Needed to Complete a Personal Tax Return
26th June 2019

We realise that the tax year seems to come around too quickly, and in January – we’re on lockdown trying to…

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SA302 Tax Calculation image
VAT Record Keeping
11th June 2019

If you’re a VAT registered business, you can reclaim VAT paid on your purchases, but you’ll need to obtain the right…

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Important Updates For Employers & Employee’s – April 2019/2020
9th April 2019

There are several payroll updates we must share with you this month, most notably: Directors Salary Increases If you’re a Director…

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If you only read one more thing about Making Tax Digital, let it be this…
5th April 2019

Making Tax Digital is finally here. Which means accounting records must be kept digitally and VAT returns need to be submitted…

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tax cut
Dental Practice Owners Guide to Tax (don’t pay more than you need to)
3rd April 2019

No matter how your dental practice operates, whether as a limited company, partnership or a sole trader, tax is one of…

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What is ‘Making Tax Digital’ and how will it affect my business?
1st April 2019

You may have heard the term ‘Making Tax digital‘ being thrown about recently. Perhaps from your accountant, or online. But what…

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