In this blog, we’ll explore these changes and provide insights into what they mean for property owners engaged in the holiday lettings sector.
Personal Tax Planning
HMRC U-Turn on Rule Change for Double Cab Pick-Ups
On Monday 19 February 2024, following discussions between the government, farmers, and the motoring industry on the potential impacts of the change in tax treatment, HMRC announced that the changes have been scrapped.
Childcare Allowance – what high earners need to consider
High earning taxpayers are probably aware of the loss of the personal allowance which occurs when adjusted income exceeds £100,000, whereby the allowance of £12,570 is lost at the rate of £1 for every £2 by which income exceeds £100,000, resulting in the entire loss of the allowance at an income of £125,140.
Tax sting in the tail for increased interest and pensions – action required by 5 October?
The regular hikes in the bank base rate since the end of 2021 have been welcome news for savers, if not for hard pressed borrowers.
The Future for Inheritance Tax
There has been a lot of murmuring in the press and Parliament this year about the Conservative Party giving serious consideration to the abolition of Inheritance Tax so Louise looks at the future of IHT in this blog.
Reducing Last Year’s Capital Gains Tax with Gift Aid
If you are a higher rate taxpayer, you can reduce your tax bills by electing for any gift aid donations that you will be making in the current year (2023/24) to be treated as being made last year for tax purposes.
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