How does being married affect Capital Gains Tax (CGT)

When a person gives/sells shares, investment properties etc. to a spouse, the transfer is deemed to be at a no gain/no loss value – so no CGT to pay. By transferring a half share of an investment property to your spouse prior to selling it, you can double the tax-free...

Starting a business checklist – 20 things to consider

When starting a business there are a lot of things to think about and a checklist can be useful. The checklist below is not exhaustive but it does include tasks that are sometimes overlooked by people starting out in business.  It is always worth talking to an...

What shares should I issue when forming a new company?

Issuing large numbers of shares creates a debt to the Company and can remove the benefits of limited liability. When a Company goes into liquidation, shareholders can lose the value of their shares because they might have to pay the share capital personally to...

What are the tax savings of an electric car?

Tax on electric cars Since April 2020, electric cars have become very tax efficient.  For example: Buying an Electric Car (as Company car) If you take £30,000 profit from a company to buy an electric car: Car cost = £30,000. Corporation tax = £0; Income tax:...

Should I set up as a Sole Trader for my new business?

Not necessarily, a Limited Company can result in you paying less tax and – while a Company owner might lose their business – a Sole Trader (self-employed) can lose personal assets as well! See video. If profits are below about £12,570, acting as a Sole...