Landlords’ replacement wear and tear allowance
Capital allowances are not available for expenditure on furniture and furnishings for use in dwelling houses. However, until 5 April 2016 (1 April 2016 for corporation tax) a deduction for wear and tear may be claimed (known as a 'wear and tear allowance election'),...
Employee bonus schemes in the spotlight
HMRC have recently published the latest addition to their tax avoidance guidance series, entitled Employee Bonus Schemes: Growth Securities Ownership Plan and other avoidance schemes based on contracts for difference (Spotlight 28). The Spotlight guidance confirms...
March Questions and Answers
Q. What are the implications of selling my Scottish home? I own and live in a property in Scotland. What are the implications of me selling the house to a relative, who will buy it using a buy-to-let mortgage, and allow me to stay in it and pay rent to her as a...
March Key Tax Dates
19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/3/2016 31 - Last minute tax planning for the 2015/16 tax year. Ensure you use up all exemptions to which you are entitled