11 - May 2019
Are you paying the minimum wage?
Posted by : Pro-Taxman
View : 154
Comment : 0
The National Living Wage (NLW) and National Minimum Wage (NMW) increased from 1 April 2019. From that date, the NLW, payable to workers aged 25 and over, is set at £8.21 per hour. Workers under the age of 25 and over school leaving age must be paid the NMW appropriate for their age. From 1 […]
02 - May 2019
SDLT and first-time buyers
Posted by : Pro-Taxman
View : 158
Comment : 0
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 Buildings Transaction Tax (LBTT) applies instead, nor in Wales, where Land Transaction Tax (LTT) is payable. As far as […]
02 - May 2019
Putting property in joint name – beware a potential SDLT charge
Posted by : Pro-Taxman
View : 168
Comment : 0
There are a number of scenarios in which a couple may decide to put a property which was previously in sole name into joint names. This may happen when the couple start to live together, get married or enter a civil partnership. Alternatively, it may occur if the couple take advantage of the capital gains […]
02 - May 2019
Simplified deductions where your business is based at home
Posted by : Pro-Taxman
View : 145
Comment : 0
Many small businesses are run from home. Where a business is run from home, household costs will be incurred which are attributable to the business. These may include additional costs of gas and electricity to provide heat and light to the home office or workshop and to power the computer or equipment, the costs of […]
02 - May 2019
What makes a property a residence?
Posted by : Pro-Taxman
View : 139
Comment : 0
Capital gains tax private residence relief is available where a property is occupied as the taxpayer’s only or main residence. The question of what constitutes ‘occupation as a residence’ was considered recently by the Tribunal, with perhaps surprising results. Quality not quantity There is no minimum period of residence that is needed for private residence […]