SJB & Co Chartered Accountants
The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. There were no changes to the income tax rates and thresholds, which had been announced previously. However, the Chancellor unveiled the successor to the capital allowances super-deduction which ends on 31 March 2023. Key dates The capital allowances super-deduction for companies is replaced […]
Changes to capital allowances from April 2023 Read More »
IHT is payable when a person dies, and their estate exceeds certain limits. It is also potentially payable on gifts made by an individual during their lifetime if the gift was made in the seven-year period prior to their death. Small lifetime gifts can be exempt. These include: Larger lifetime gifts are potentially chargeable to
Inheritance Tax (IHT) – Tax Free Gifts 2022-23 Read More »
George Osborne, definitely had a bee in his bonnet about property owners, particularly those who were building buy-to-let property portfolios. A major change that he introduced was the gradual reduction in the amount of tax relief that landlords of residential property could claim for finance charges: this includes mortgage interest. Accordingly, finance charges are now
Property Business Tax Review 2022-23 Read More »
Business Tax Review 2022-23 THE BASICS: Whether you are self-employed or have your own company your periodic business tax payments will always be based on yearly trading profits and other chargeable gains made in the same period. If you run your business through a company, corporation tax is payable on adjusted business profits (after allowances
Year-end planning for Business Owners Read More »
