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Tag: Tax

Alextra Accountants
Private Residence Relief And The Final Period Exemption
From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence. The main gains are where the property has been the only or ...
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Alextra Accountants
Tax-Free Childcare Update
HMRC have recently run a campaign to remind people that they could be missing out on up to £2,000 per child, per year, towards the cost of childcare. Working parents and guardians may be eligible to r...
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Alextra Accountants
Hybrid Cloud Technology
Many businesses are starting to realise that having all their data in the cloud may not be the best option. Due to cyber-security concerns, many firms are migrating applications and data away from the...
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Alextra Accountants
Making Tax Digital Software - What Do You Need?
Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with the requirements...
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Alextra Accountants
Stamp Duty Land Tax And First-Time Buyers
Stamp duty land tax (SDLT) is payable where you buy a property in England or Northern Ireland and the amount paid is more than a certain amount. SDLT does not apply in Scotland, where Land and Buildin...
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Alextra Accountants
Salary v Dividend For 2019/20
A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is pursued for 2019/20, what level should...
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Alextra Accountants
Tax-Free Christmas Parties
Tax-free Christmas parties Although the tax legislation contains an exemption to prevent employees from suffering a benefit-in-kind tax charge on the staff Christmas party, the exemption is limited in...
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Alextra Accountants
Taxation Of Savings – What Can You Have Tax-Free?
There is no one answer to the amount of savings income and, for 2017/18, the answer can range from £0 to £18,650, depending on personal circumstance. When looking at tax-free savings, there are a numb...
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Alextra Accountants
Tax-Free Rental Income of £8,500
By making the most of the rent-a-room relief and the £1,000 property income allowances, it is possible to receive tax-free rental income in 2018/19 of £8,500 (while utilising your personal allowance e...
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Alextra Accountants
SDLT – How Much Will You Pay?
Stamp duty land tax (SDLT) was the headline-grabbing measure in the Autumn Budget on 22 November 2017, with the announcement that first-time buyers will no longer have to pay SDLT on the first £300,00...
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