Generally speaking, any business expenditure that you make up to seven years before you actually start trading, is treated for tax purposes as if it was incurred on the first day of trading. This expenditure includes rent, rates, insurance, wages and other costs that you…
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Tax and your home
If you use your home for business purposes, rent out parts of your home whilst you are still in residence or if you rent out your home while you are resident elsewhere, you may need to consider the tax consequences. This article covers some of…
Tax Diary October/November 2016
1 October 2016 - Due date for Corporation Tax due for the year ended 31 December 2015. 19 October 2016 - PAYE and NIC deductions due for month ended 5 October 2016. (If you pay your tax electronically the due date is 22 October…
Incorporating a buy to let property business
Any buy to let landlord that presently claims a tax deduction for mortgage interest is likely to be adversely affected by changes in the tax rules from April 2017. In previous blogs we have pointed out that from April 2017, finance charges (including mortgage interest)…