“I’m selling my own home – I won’t pay any capital gains tax, will I?” Well… maybe. People do not generally pay Capital Gains Tax when they sell the home they live in due to the Principal Private Residence (PPR) relief. However, there are quirks to this relief and not every sale may qualify for it. Find out what these are.
February and March marks 6 Nations time for many. A beautiful time where rugby fans in the Northern Hemisphere come together to parrot the same phrases over, and over again in a bid to convince those around them of their own rugby expertise.Much like the rugby fans who only watch the game for 5 weeks every year - leaving the rest of us (purists) rolling our eyes – there are plenty of people who come out this time of year shouting about tax planning without “Going through the phases”. What do we mean by this? Let us entertain you… Here are the top phrases you may be likely to hear from tax advisers in the next couple of months as tax year-ends come to an annual close.
Tax advice and the infamous game Dungeons and Dragons (DnD) are not normally associated with each other. However, let us tell you why they are essentially the same concept whilst highlighting the impeccably similar and transferrable skill sets between the two.
As a Chartered Tax Adviser, here is something I (James), often hear from Executry solicitors:
“Hi Jamie, I’ve got this bond in a deceased estate that I’m dealing with, I wonder if you can clarify a few things?”
Once I hear this, alarm bells start ringing. My gut tells me this isn’t going to be a lovely easy government gilt or a guaranteed bond from the National Savings and Investments platform.
When setting up a new business, you have several structures to choose from before starting to trade. There are two types of business structures - unincorporated and incorporated entities. Each one has different reporting, legal and tax implications which you need to consider. Don’t know which one is right for you? We take you through the main advantages and disadvantages of each.
What do Financial Directors (FDs) really do? And what does the role of a financial director usually entail? It may vary from company to company, however even as an outsourced financial director for our clients, there are certain tasks and responsibilities that people often overlook. If you want to know whether you should hire or outsource a Financial Director, perhaps these three things will help. After all, every company requires them at some point or another.
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