Often a person’s home is the most valuable investment he or she will make during their lifetime, and two reliefs exist which may cover, or mitigate, the capital gain made on the property during ownership. Principle Private Residence Relief PPR relief is available to individuals on the sale of their own home, referred to in legislation as a ‘dwelling… Read More »
The London Anniversary Games are to be held this summer to help prolong the legacy of the London 2012 Olympic and Paralympic Games. Usain Bolt has confirmed his attendance for the anniversary games. However, Usain Bolt’s attendance may be as a consequence of a recent tax announcement by H M Revenue & Customs – as well as a celebration of… Read More »
Who would be a football referee? Abused by the players, vilified by the managers and the subject of numerous unflattering songs from the fans, it takes a certain type of person to be a referee these days. And we are proud to announce that we have that certain type of person in our midst at Perrys. Lee Dyson, assistant manager… Read More »
New guidance has recently been published by HM Revenue & Customs on the General Anti-Abuse Rule (GAAR), which will come into effect when the Finance Bill 2013 becomes law later this year. The GAAR has been widely publicised as forming part of the Government’s strategy to tackle abusive avoidance of taxation. Within the published guidance, the GAAR will apply to… Read More »
This week, at the age of 47 and 11/12ths I did something that I’d never done before………I sat in a radio station studio chatting to the resident DJ live on air. The subject? Why accountancy of course. I could almost hear listeners rushing to switch off the radio or close down the laptop! The radio station was Meridian FM, a… Read More »
When you reach State Pension age, you no longer have to pay National Insurance contributions! But you don’t automatically stop paying Income Tax. If your taxable income – including your State Pension – is more than your tax-free allowances you’ll still have to pay tax. In order to work out if you are due to pay tax, you need to… Read More »
If a property is owned jointly, you will have chosen one of two kinds of ownership, joint tenants or tenants in common. Joint Tenants As joint tenants, the property belongs to both owners jointly, effectively as if a single owner, each owner does not have a specific share in the property. As joint tenants, you cannot give away a… Read More »
Some people say that the number 13 is unlucky, but with some background knowledge of company car tax, you can make an informed choice that will minimise your tax bill when you decide to splash out on that new car. Do you buy or lease the car through the company or take the additional money out of the business to… Read More »
We are always surprised by how many times we meet businesses for the first time that have no official business agreement in place, even those which have been trading for many years. It is always easier to agree the rules of running an operation when the business is worth little or nothing. Additionally, it is essential to agree the structure… Read More »
At a press briefing in February 2002 Donald Rumsfeld, then the United States Secretary of Defense made the following statement: “There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say, we know there are some things we do not know. But there are also unknown unknowns – the… Read More »