Monthly Archives: November 2016

Capital Gains Tax For The Self Employed, Sole Traders and Business Partnerships Explained

mm

Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
mm

capital gains tax for businessIf you’re planning on selling part or all of your business then you will need to be aware of

Capital Gains Tax (CGT). This is a tax paid on the profit made when selling a business as a whole or any business asset by those who are self-employed, sole traders or in a business partnership.

Find out the current rates of Capital Gains Tax and what it means when selling part or all of your business:

Continue reading

Considering Selling Or Investing In a 2nd Property? – Finance Act 2016 Change Explained

mm

Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
mm

Under the Finance Act 2016, there is a new tax law that affects those selling their second properties after 5th July 2016. This law also affects overseas investors by making them pay UK tax on their UK properties they have sold, but not lived in.

In addition to this, the change has affected buy-to-let investors that aren’t investing in property as a trade but do occasional property investing. Find out more about these changes and what they mean for you:

Continue reading