Latest News

No Major Tax Changes in Chancellor's Spring Statement

As announced last year, the Chancellor’s Budget will in future take place in the Autumn each year as opposed to the Spring. There was, however, a Statement by the Chancellor on 13 March, but he made little mention of tax changes, instead choosing to focus on the state of the economy and stating that there is “light at the end of the tunnel”. This contrasts with other recent Chancellors such as Gordon Brown and George Osborne who used both the Spring Budget and Autumn Statement to make announcements of tax changes.

What Allowances can you Claim on Replacement of Domestic Items?

As a Landlord, it’s always important to ensure that you know what you can be claiming for.

The government allows landlords to claim tax relief on money spent to replace 'domestic items' in their rental properties. This came into effect from 5 April 2016 and the replaces the previous wear and tear allowance basis, which was used to cover such items.

The government lists a number of examples of which domestic items qualify for this new relief. These include:-

Are you Claiming all your Expenses?

To ensure you are paying as little tax as possible it’s important to claim all the allowable expenses that are available. Are you claiming all of yours?

As a general rule, landlords can claim the expenses of running and maintaining their property. The most common types of expenses you can deduct are:

Can I Claim my Legal Expenses?

The answer to this question is that it depends what your legal expenses relate to. So let us cover a few examples in our article today.

Generally, legal fees are capital if they relate to a capital matter, such as the purchase of a property. Therefore costs incurred in respect of acquiring, adding to or selling an asset are normally capital.

Structuring your Property Business

At Shapcotts we have a range of packages that we offer to assist our clients to ensure they achieve what they want and need from their property business and portfolio.

Today I am going to highlight our Structuring your Property Business Package. 

5 Things to Consider when Transferring Properties into a Company

This, unfortunately, is not a simple question to answer as there are many possibilities. So today I will provide some insight into some of the aspects that you will need t consider. I would recommend speaking to a professional such as ourselves ahead of making any final decisions to ensure that you don’t find you have a nasty surprise when you look at the tax bill or any other impacts in making a change.

Building a Business Development Culture

As the business world becomes ever more competitive, it has become increasingly important to create a business development culture within companies. To achieve this, the whole company must shift its focus from a culture of working “in” the business to also taking some time to work “on” the business.

Everyone has a role to play in business development

Managing the Gig Economy

The so-called “gig economy” is starting to change the way we think about our workforce. As the world of work becomes more flexible, an increasing number of professionals are opting to become independent contractors who market their skills to businesses, for as long as they are required.

Mobile Device Management

Bring your own device (BYOD) policies have become increasingly popular in the last number of years. However, this has meant that small and medium-sized businesses have faced new challenges in terms of how to manage company data held on the personal devices of employees.

Managing Your Strategic Objectives

Now that you are starting to settle into your stride in 2018, perhaps its time to revisit your list of goals and objectives.

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