Triple Whammy For Landlords Now Effective

So what is this triple tax whammy the press are talking about and how might it affect your business?

  • Cuts in capital gains tax not applicable to investment property
  • Stamp Duty Land Tax – 3% surcharge applicable on buy to lets & second homes
  • Wear & Tear allowance scrapped

This new tax year is not great news for landlords & second home owners.Please get in touch to see if we can make 2016/17 a tax efficient year for you.

Save £900 Submit Your Self Assessment Return On Time

Did you know that even if you have no liability or tax due from your self assessment return you will still be immediately liable for a £100 fine.

  • Paper returns must be submitted by 31 October.
  • Online returns must be submitted by 31 January.

In addition to the £100 automatic fines, daily fines of £10 per day will be accrued if your return is still outstanding after 3 months. A maximum of £900 could become payable. We offer self assessment tax returns from roughly £150 so do not delay if you are struggling and need help. No job is too big or small.

Contact us now and we can submit your return for you on time and you can relax knowing its done.  Check our contact details page for ways to get in touch.

How To Simplify Accounting For Home Office Costs

Small Businesses are entitled to claim back expenses incurred such as heat, water and mortgage interest as result of using their home as an office. However, what exactly do HMRC deem as “reasonable” or “allowable”?

Adopting the simplified flat rate deduction basis for home office costs can make things a lot easier and tax efficient for businesses.

2014 – 2015 rates
£10 a month for 25 or more hours.
£18 a month for 51 or more hours.
£26 a month for 101 or more hours.

To find out more about simplifying your tax affairs and how to reduce your tax bill then please feel free to get in touch. You can find our contact details here.

2k Cashback – Claim Employment Allowance

Around 1.25 million businesses in the UK are now eligible to claim employment allowance. In order to allow your business to invest, grow and take on new people the government has brought in this allowance effective from 6th April 2014.

How will you spend yours?

For help with claiming your allowance contact us with any other questions you may have.  Contact Details

You can also connect with us via social media CGCR Facebook  &  CGCR Twitter

Claim back 2k Employment Allowance

From the 6th April 2014 all UK employers that pay Class 1 National Insurance Contributions will be able to claim back £2000. If your business usually pays under £2000 employer National Insurance Contributions then you won’t have anything to pay.

Contact us to find if you are eligible or for any other money saving advice you may need. You can find our contact page here : Contact Us