Blog
Stay informed with the latest updates
Our News page is updated daily and the news feed is supplied by Sift media who are well respected writers in the industry. If you are interested in new laws, guidance and reports on anything that is happening in Government that could affect your business, these posts -will be useful. You can also sign up to receive them in your inbox.
What car expenses can I claim for my business?
Find out what car expenses you can claim for your business
What is the difference between Joint Tenants and Tenants in Common?
If you are in a marriage or stable relationship, then buying as Joint Tenants is probably fine. With this method, you own the property jointly, you split income and costs equally and, on the death of one owner, the other owner automatically inherits the deceased...
What are the capital gains tax rules on sale of residential properties?
If you are a UK resident and you are selling your residential property, any Capital Gains Tax due will have to be calculated and paid to HMRC within 60 days. For the vast majority of sales, no Capital Gains Tax (CGT) will be...
How do I change the ownership split on a buy-to-let property?
Although, generally, property lawyers know about taxes associated with transfers and disposals (sales) of property, I have come across a couple of instances where they have not fully advised their clients. When a property is owned by a couple (married or civil...
What are Depreciation and Capital Allowances?
Depreciation: Is an accounting term for spreading the value of a fixed asset (vehicle or equipment etc.) over its useful life. Spreading the cost is fairer and more accurate than deducting it all from the Business’s Profit in the year of purchase. i.e. Depreciation...
What to consider when splitting shares between couples
Who genuinely owns, founded, or acquired the business? Who works in it and earns the money? If the person who formed, and runs it isn’t the majority shareholder, this could mean trouble – because, if the couple fall out, the main worker could lose control of their...
How to delay being VAT registered
VAT registration and small businesses VAT registration is a problem for small businesses who sell to the general public. When your annual turnover exceeds £90,000, you must register for VAT and pay 1/6th of your gross sales to HMRC. However, there are some ways that...
What is the Personal Allowance?
Every person who is resident in the UK is given a personal allowance each tax year. It operates as follows: The personal allowance is the amount of income you can receive before paying tax – and it generally increases each tax year. For the 2024/25 tax year, it is...
What taxes affect landlords?
When starting up as a landlord there are a number of issues and tax implications to bear in mind. Decide on what investment property to buy. This is obviously the most basic decision and the key decision (aside from whether to buy a property). Decide how to...
What is the marginal rate of tax?
The marginal rate of tax paid is “the percentage of tax paid on earnings for the next pound earned.” What that means is that if you earn £50,270 your marginal rate of tax is 40% because for the next pound that you earn, you will be paying tax at 40%. Below are the...
Get in touch today for a free consultation.
We are very happy to meet you to discuss your business or even your idea for a business. We will advise you on the most tax efficient structure if you are setting up and we can review your business if you are already trading.
Subscribe to our newsletter
By submitting your details you agree to receive email marketing from AMS Accountancy and have read and understood our Privacy Notice. You can withdraw your consent or change your preferences at any time by emailing us or by clicking the link at the bottom of every email we send you.