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.
Incorporating a property portfolio might cost less than you think!
Iain Rankin from Tax Insider explores potential ways to overcome the tax and finance challenges that make the decision to incorporate not as straightforward as some landlords believe
Making Tax Digital for Income Tax will now be introduced in April 2024
On 23rd Sept 2021 HMRC announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) will be introduced a year later than planned, in the tax year beginning in April 2024.
A presentation and Q&A on Property and Inheritance Tax Planning
On 21 Oct 2021 at 19:00 JMS Accounting will make a presentation on Inheritance Tax (IHT) Planning with special focus on Property.
Vat on Serviced Accommodation from 6th Oct 2021
From 6 October 2021, VAT chargeable on Service Accommodation, hotels and travel accommodation in UK has gone up to 12.5% from 5%
This rate will be applicable to 31 March 2022, thereafter the rate will revert to 20%.
What is a “Deed of variation” when it comes to a will and Inheritance tax?
A deed of variation – or DOV – is a legal document that allows the beneficiaries of an estate (e.g. children) to make changes to a will, in the name of the deceased, after their death.
What happens to company assets when a company is struck off?
What happens to company assets when a company is struck off?