01983 614108

Rental expenses

by | Feb 18, 2016 | ACCA, personal taxatation, property taxation

Overview of some of the common tax issues on rental expenditure. The general rule when calculating rental business profits is that expenses will be treated as revenue expenditure provided they are incurred wholly and exclusively for the purposes of the business and...

Farmers’ averaging profits

by | Feb 12, 2016 | ACCA, business taxation

Guidance and examples for how farmers may obtain tax relief by averaging the profits of consecutive years. The rules relating to the averaging of profits relating to farmers and creative artists are in Income Tax (Trading and Other Income) Act 2005 (ITOIA 2005), Part...

Marriage allowance transfer

by | Feb 1, 2016 | ACCA, personal taxatation

Change will allow the transfer of £1060 under certain conditions. This change applies from 6 April and allows for the transfer of £1,060 of a personal allowance to a spouse or partner where the transferor’s income is less than £10,600 and the recipient doesn’t pay tax...