The tax timetable for electric cars

Electric cars are now tax efficient again! After initially being very tax efficient, recent Governments have been making electric cars less tax efficient. The benefit-in-kind taxable percentages rose from 5% in 2015/16 to 16% in 2019/20.  So, for 2019/20, a...

Breakdown of annual exempt amounts for Capital Gains

There is an order for deciding how to set off the Annual Exempt Amount (for Capital Gains) and Capital Losses against Capital Gains The Annual Exempt Amount (2020/21 £12,300) is set against any Capital Gains in the year BEFORE any Capital Losses are brought forward....

How do I register for CIS (the Construction Industry Scheme)?

How to register for CIS The Construction Industry Scheme is a scheme that applies to payments to self-employed workers and businesses in the Construction Industry.  Under the scheme tax is deducted from payments and paid over to HMRC. There are two sorts of people...

What to consider when buying a commercial property.

Stamp duty There are 3 rates of Stamp Duty Land Tax on the purchase price of a commercial property: 0% up to £150,000; 2% on the next £100,000; 5% over £250,000. VAT With commercial properties, the landlord normally applies to HMRC to ‘opt to tax’ –...