Sinclair Day

March 7, 2018

Property owners’ lose 50% of higher rate tax relief on finance costs

Under new rules that came into effect from April 2017 the tax relief on mortgage costs for residential landlords is being gradually restricted to the basic rate of tax. Many landlords of residential properties that used to benefit from full tax
March 7, 2018

Company fined £297,845 for paying VAT one day late

We have often warned our readers of the importance of submitting and paying VAT returns in a timely manner. In a recent article we wrote that it is imperative that VAT returns are submitted and paid on time as a delay of even one day can have
February 27, 2018

Claiming for cost of equipment used at work

Employees who need to buy substantial equipment to use as part of their employment may be able to claim tax relief. In most cases you can claim tax relief on the full cost of this type of equipment as it would be eligible for a type of capital
February 27, 2018

Tax-free allowances for Capital Gains Tax

The annual exemption for Capital Gains Tax (CGT) in the current tax year is £11,300. This exemption allows taxpayers who dispose of chargeable assets such as property, stocks and shares of up to this amount, to make a tax-free gains during 2017-18.