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What powers does HMRC have to spot missing rental income?

If you have a rental property, it is important to report the rental profits to HMRC on a self-assessment tax return. HMRC…

By RJP LLP on 12 October 2020

capital allowances • Personal tax • Property • Tax Planning

Why is a holiday let more tax efficient that a normal buy-to-let?

This summer’s staycation boom, the prospect of Brexit and the temporary reduction in stamp duty rates have left many people thinking about…

By RJP LLP on 23 September 2020

capital gains tax (cgt) • Property • Tax Planning

Update: 30 days to pay investment property CGT

The sale of a UK residential property which gives rise to a Capital Gains Tax liability now needs to be reported to…

By RJP LLP on 8 September 2020

Business Services • Business Tax • HMRC • Small Business • Tax Planning • Taxation

Vans redefined as cars. What are the vehicle tax implications?

In the recent case of Payne, Garbett and Coca-Cola European Partners Great Britain Ltd vs HMRC it was upheld that some modified ‘crew-cab’…

By RJP LLP on 27 August 2020

capital gains tax (cgt) • Coronavirus Advice • Personal tax • Tax Planning

Possible Capital Gains Tax review on the horizon

Rishi Sunak has dropped some heavy hints that taxes will be increasing to cover the cost of the financial support provided by…

By RJP LLP on 23 July 2020

Business Tax • Capital Gains Tax • exit strategy • Tax Planning

Introducing the new ‘business asset disposal relief’

The COVID-19 crisis is proving all-consuming for the press and as a result, one of the important changes announced in the 2020…

By RJP LLP on 21 April 2020

Business Services • Business Tax • Personal tax • Small Business • Tax Planning • Tax Relief • Taxation

Super spender Sunak restricts ER but unveils record giveaways in Robin Hood budget

We were expecting an announcement-packed Budget yesterday, and we certainly got it. After the government suggested that 80% of people in the…

By RJP LLP on 12 March 2020

Business Services • Tax Planning • Tax Relief

7 industries ripe for R&D tax credits success

One company tax relief that is not expected to change in the 2020 Budget is R&D tax relief. Since it was started…

By RJP LLP on 10 February 2020

Personal tax • Tax Planning • Taxation

MPs are calling for an IHT review

One tax that may be the subject of a review in the 2020 Budget is inheritance tax. A cross-party group of MPs…