Can I claim capital allowances?
Capital allowances are a way of obtaining tax relief on some types of capital expenditure. What is capital expenditure? Expenses you incur in your business can either be capital or revenue [...]
I claim child benefit. Should I complete a tax return?
The High Income Child Benefit Charge (HICBC) was introduced in January 2013. It relates to the clawback of child benefit for those with income in excess of £50,000 per year. Who does it apply to? [...]
HMRC restriction tax relief of mortgage interest
This is our second blog about rental income. Here we consider the new restrictions for tax relief on mortgage interest. Click here to see our first blog. Interest relief from 6 April 2017 In the [...]
Flat Rate VAT Scheme – Low Cost Trader
From 1 April 2017 HMRC introduced changes to the flat VAT rate scheme. The flat rate scheme was introduced to reduce the administrative burden of small businesses. Under the scheme the business [...]
Do you receive rental income from residential property?
This is our first of two blogs about rental income from residential lettings. Our second blog will consider the tax relief restriction on mortgage interest which came into force from April 2017. [...]
In Budget, Capital Gains Tax, Employment tax, General, Individuals, Owner managed businesses, Pensions, Property, Start up, Tax planning
Posted Budget 2018 – How will you and your business be affected?
On 29 October 2018 the Chancellor presented the Autumn 2018 budget. Businesses Annual Investment Allowance (AIA) The Annual Investment Allowance (AIA) provides 100% tax relief on certain capital [...]
Welcome
Hello Welcome to our first blog post. We are Gloucestersphere Accountants, a new accountancy practice based in Gloucestershire. We love accountancy and understand that many of you would rather [...]
