Against the rental income of furnished residential properties, you can offset a significant amount of the ongoing expenditure, including:-
HMT and HMRC have just released their policy paper on the G20 and OECD Action Plan to tackle Base Erosion and Profit Shifting (‘BEPS’). In it, the government strongly endorses the BEPS initiative for “creating a fair and balanced set of international rules for both countries and companies.”
Inheritance tax is something people often put to the back of their minds as they find it unpalatable to consider or plan for. As it is a tax which often crystallises on death we tend to ignore it for as long as possible. It is however a tax which, with the right planning, can be to varying degrees avoided.
To better serve the community, James, Stanley & Co. Limited will be hosting a free tax clinic this Thursday, 13th of June from 11-1. This is a fantastic opportunity for all businesses—big or small—to learn more about their accounts. Simply drop in during your lunch hour and ask any questions regarding your accounts, books, or business.
In a recession clients often look to make cost savings and one area they look to reduce spending is cancelling non-essential insurance or savings policies. Careful thought and professional advice should be taken before making the decision to cancel a policy.