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assets

Have you used your tax-free capital gains exemption?

You and each member of your family is entitled to make tax-free capital gains of up to £12,300 in the 2021-22 tax year. If you have made no disposals that would trigger a capital gain in 2021-22.

Super Deductions on new plant and machinery assets from 1 April 2021

Starting 1 April 2021 and ending 31 March 2023, most companies that invest in qualifying new plant and machinery assets will be able to claim new super-deductions and allowances.

When is capital gains tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19.

When is capital gains tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19.

It's all in the clouds

For those of you that have already considered the assets you hold and what should happen to them in the event of your death (or losing mental capacity), the obvious ones such as property, physical assets (cars etc.), personal items are easy.  

It's all in the clouds

For those of you that have already considered the assets you hold and what should happen to them in the event of your death (or losing mental capacity), the obvious ones such as property, physical assets (cars etc.), personal items are easy.  

When is a hobby a trade?

We have received enquiries from a number of clients, concerned that HMRC is going to try and tax them for the small amounts of cash that they make from pursuing hobbies. For example, buying and selling on eBay or setting up stalls at their local drive in markets – car boot sales.

When is a hobby a trade?

We have received enquiries from a number of clients, concerned that HMRC is going to try and tax them for the small amounts of cash that they make from pursuing hobbies. For example, buying and selling on eBay or setting up stalls at their local drive in markets – car boot sales.