tax planning tax consultant Archives - Page 10 of 14 - Ilyas Patel Accountants in Preston

Exploring Buy-to-Let Ownership: Personal vs. Company Structure What is the most tax-efficient way to property buy-to-let ownership? Personally, or via a company?  What are the income and Corporation Tax, CGT, IHT, ATED, SDLT or VAT issues? With tips on profit extraction and other planning points, case studies and links to further guidance. (Read Time: Approx.

Inheritance Tax Calculator for Married Couples and How To Pay Less Inheritance Tax (IHT) plays a crucial role in estate planning. It can be challenging to determine when it applies and the rate at which it’s charged. With our guide, navigating the complexities of IHT becomes more manageable. Read on through this week’s Friday Tax

Gifting Company Shares: Family Benefits, Tax Savings When gifting private company shares to your family members, there are several intricacies to consider. Today, we will discuss the tax implications that come along with gifting company shares. Explore the reliefs that can potentially apply to navigate this process effectively and save you money. Overview of Gifting Company

Parent’s Guide to Tax Planning for University When your children go to university, you may wish to financially support their journey into adulthood. Many parents will need to be aware of the tax implications when fully financing their children’s fees, bills, and rent. In this guide, we will discuss tax planning for university, and how

Tax-Smart Tactics for Entrepreneurs For business owners and entrepreneurs, managing taxes can make a big difference in profits. This article provides easy-to-follow tax tactics for keeping more of what you earn. Dive in to learn straightforward methods for boosting your financial success. Salaries and remuneration Directors often opt to pay themselves a salary to safeguard

Gift Property ➝ Pay Less Tax When gifting property to family members, it’s vital to consider the tax implications. The process might appear straightforward initially. Yet, the intricate nuances of tax regulations can lead to unforeseen tax consequences. Capital Gains Tax (CGT) Gifting property within a family entails crucial tax considerations, especially concerning Capital Gains

Tax Advantages for Furnished Holiday Lettings Are you considering owning a Furnished Holiday Letting (FHL)?   Wondering how you can qualify for significant tax benefits and what the associated rules are?   On this Tax Tip, discover the tax advantages of a Furnished Holiday Letting.  Understanding Furnished Holiday Letting An LPA is a legal document that grants

Protect Your Business: Lasting Power of Attorney Have you ever wondered what could happen to your business if you couldn’t run it anymore? We’ve partnered with Noor Law Solicitors to find out more about how a Business Lasting Power of Attorney can help your business. Guest Article by Saara Patel, Director | Noor Law Solicitors The risks

How Doctors and Dentists Can Claim Tax Back On Tools Bought For Work If you’re an NHS doctor or dentist, you need to know about your allowable expenses. For instance, to find out how to claim tax back on tools bought for work So if you work in healthcare or with the NHS, our guide

Handling HMRC Letters: Your Guide to Confidently Navigate Tax Investigations There are several reasons that HMRC will send out a Tax Inquiry letter. Often, HMRC are lacking some information about the Tax that you owe, due to input error, or missed information which has been obtained from 3rd parties.  If you’re asking yourself “Why would I