Spring Statement 2023
On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages.
Capital allowances for expenditure on a building or structure
A number of cases relating to the meaning of ‘plant’ in the context of a building or structure were heard in 2022. In this article, I’ll look at how to determine whether capital allowances (CAs) for plant and machinery (P&M) may be claimed in respect of expenditure on a building or structure, highlighting those areas where recent cases have clarified the application of the rules.
What is the effect of base rate increases on Landlords?
What is the effect of base rate increases on Landlords??
Companies with a sole director – Model Articles of Association
Following High Court Case of Hasmi v Lorimer-Wing(2022), it seems that the model articles of Association are no longer valid for single director/ shareholder company
How does the Sept 2022 mini-budget impact landlords?
On Friday 23rd Sept 2022, the Chancellor, Kwasi Kwarteng, presented a ‘mini budget’ which aims to help people cope with the rising cost of living while promoting a “rate of growth of 2.5%”.
Time to Incorporate
With the cost of borrowing increasing with further rate increases on the horizon, there has never been a better time to Incorporate your property portfolio, and transfer your properties from sole or joint ownership to a private limited company.
Who will deal with your affairs if you lose mental capacity?
A lasting power of attorney (LPA) gives another person or persons (known as your “attorney(s)”) the authority to act for you if you are unable to do so yourself. That authority continues even if you lose the mental capacity to make decisions for yourself.
JMS Accounting commentary on 2021 Autumn Budget
JMS Accounting commentary on 2021 Autumn Budget. There were high expectations by landlords of further reforms in the budget, and sadly many opportunities to improve the situation for landlords were missed.
Putting an investment property into trust for family members
Trusts are usually taxed very heavily. Nevertheless they are in some cases well placed to expedite a person’s wishes,
The rent-a-room tax break
HMRC’s rent-a-room scheme is an optional exemption scheme, which allows individuals to receive up to £7,500 of tax-free gross income (income before expenses) from renting out spare rooms in their only or main home.