ZincBooks

There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are met. There are also reliefs available where taxpayers sell a property to a charity for less than its market value. Tax relief may also be available if a lease is granted to a charity that is rent-free or below a market rent. #CGT #GiftsToCharities #Charities

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person's lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are given. #IHT #PotentiallyExemptTransfers

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding the tax rules or because of deliberate tax evasion. Participation in the campaign is open to all residential property landlords with undisclosed taxes. The campaign is not suitable for those letting out non-residential properties. #Landlords #UndeclaredRentalIncome

To calculate your Council Tax, you need to know the following: #CouncilTax #LocalTaxes #PropertyTax

When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC. #VAT #VATRegistration #VATPlanning

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the trust. The person who places assets into a trust is known as a settlor and the trust is for the benefit of one or more ‘beneficiaries’. The trustees make decisions about how the assets in the trust are to be managed, transferred or held back for the future use of the beneficiaries. #DiscretionaryTrusts #EstatePlanning #UKTrustLaw

As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect for any tax avoidance arrangements falling within the scope of the announcements that are made on or after 30 October 2024. #CloseCompanyRules #AntiAvoidanceUK #TaxCompliance

The 18% and 28% Capital Gains Tax (CGT) rates currently applied to carried interest gains remain unchanged for the current tax year. This charge applies to individuals who provide investment management services to funds and receive carried interest on which they are liable to pay CGT. #CarriedInterestTax #TaxRateChanges #Investments

Securing funding for a new startup is one of the most critical steps in ensuring the success of a business venture. However, obtaining financing can often be challenging. For instance, traditional bank loans may not always be an option, or they might require security conditions like a personal guarantee. #StartUpLoans #BusinessFunding #Entrepreneurs

The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure the changes are reflected in tax codes for tax year 2025-26. #FuelBenefit2025 #TaxChangesUK #CompanyVehicles