by AJN Accountants | May 9, 2019 | Accounting, Advice, Bookkeeping, FAQs, Landlords, News, Property, Small Businesses, Tax planning
From April 2019 there has been a significant restriction to rent-a-room relief. Read on to find out more. In 2018 the Chancellor announced a significant restriction to rent-a-room relief with effect from 6 April 2019. It would only be allowed where you occupy your...
by AJN Accountants | Feb 26, 2019 | Accounting, Advice, FAQs, Financial planning, Landlords, Property, Tax planning
The level of profit generated by a rental portfolio is what determines whether a landlord has to complete a tax return. Read on to find out HMRC’s guidance on the topic. Whether or not a landlord needs to complete a tax return would depend on the level of...
by AJN Accountants | Dec 6, 2018 | Accounting, Advice, Business, FAQs, Financial planning, News, Small Businesses, Tax planning
Director/shareholders can at times find themselves in a situation where they have used business cash to fund personal purchases. It is important to record such transactions adequately in the company books to avoid potential issues with HMRC. HMRC’s View HMRC...
by AJN Accountants | Nov 28, 2018 | Accounting, Advice, FAQs, News, Tax planning
The 2018 Budget increased the tax and NI bands from April 2019. They won’t be increased again until April 2021. Therefore, the resulting tax saving has the appearance of being more generous than it actually is as there are changes to NI contributions to factor in. tax...
by AJN Accountants | Nov 7, 2018 | Accounting, Advice, FAQs, Financial planning, Landlords, News, Property, Tax planning
Following the 2018 Budget there are several key changes to letting relief which are due to be implemented from April 2020. The government will reform lettings relief so that it only applies in circumstances where the owner of the property is in shared occupancy with...