Whether it’s to facilitate a sale, for tax planning purposes or even just out of curiosity, many business owners want to know what their company is worth. Several factors contribute to valuations, including most simply the level of profits and assets. Ultimately though, the true value of a business can only be worth what a […]
As many business owners look to bounce back from the COVID-19 pandemic, business growth often leads to additional tax compliance requirements. An evolution in your business may represent new product launches or entering new territories, with both potentially resulting in new and unfamiliar compliance obligations. Business owners also find themselves having to manage an ever […]
Whether you’re planning to start out in property or an existing landlord, keeping up to date with rule changes around property transactions is imperative. Here’s five rules impacted by recent changes to consider: An extra 2% Stamp Duty Land Tax (SDLT) surcharge now applies if you’re purchasing a residential property in England and Northern Ireland but […]
There are multiple tax implications and ‘traps’ when owning property within the UK, here’s a few areas to look out for. Gifting property Any property gifted is subject to capital gains tax (CGT) for the person making the gift, unless between a married couple or civil partners, with the CGT amount paid the same as […]
Deciding when to sell a business, and how to sell it, can be one of the most difficult decisions a business owner faces. Detailed preparation is of paramount importance in order to achieve a successful family and owner managed business sale. The time a sale will take will depend on a number of factors such […]
The effects of the pandemic and rising property prices could mean a growing number of families need to consider inheritance tax (IHT). Whilst IHT is still only paid by a small proportion of the UK population, the number is growing. Chancellor Rishi Sunak announced a freezing of the IHT threshold up to and including the […]
To combat the costs from the ongoing building safety crisis, a new UK-wide tax for residential property developers is being considered by the government. A consultation has been launched on the design of a new residential property developer tax (RDPT) with the aim being to raise at least £2bn in revenue over the course of […]
Keeping on top of your business records as well as separate personal records of your income is a crucial exercise if you’re self-employed as a sole trader, or as a partner in a business partnership. From a tax perspective, business records must be held for at least five years from the 31 January submission deadline […]
For a multitude of possible reasons, shareholders or directors of a business may be considering to split their business up in the form of a demerger. Whether the overall vision of the business has shifted, future direction of individual components has diverged, or there are other strategic or operational reasons, ‘demergers’ are a common business […]
With President Joe Biden pushing to nearly double the rate of capital gains tax (CGT) for the US’s wealthiest individuals, could the UK soon be looking to follow suit? The US government has given strong indication that it intends to target the ultra-rich as a means to bolster public finances to combat the colossal economic […]
