Did you know that you can reduce your tax bill by claiming capital allowances when you buy assets for your company? It could be anything from machines to computers and even software! Any assets you buy for your company can enjoy this benefit, allowing you to save plenty of money in the long run. That said, if this...
When you make a gain after disposing of an asset, you’ll be aware of the need to pay Capital Gains Tax (CGT). But do you know the full rules around CGT for residential property? If you’re an individual selling your own property – rather than a business selling a property owned by the company – the rules for...
Capital gains tax is paid on the profit you make when you sell an asset that has increased in value. From 6 April 2018, the amount of profit individuals can earn tax free will increase from £11,300 to £11,700. Married couples and civil partners can use both partners’ annual exempt amounts, raising their total to a combined £23,400....
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