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KRW Q & A

28 July 2019

Q&A: CAN I RECLAIM VAT IF MY BUSINESS PURCHASES A CAR?

on Sunday, 28 July 2019.

This question comes up regularly from clients buying a new car, or a second-hand VAT qualifying one: Can the VAT be reclaimed?

In this month’s Q&A we take a look at the conditions that need to be met to reclaim VAT on the purchase of a car.

31 January 2019

WHAT TAX RELIEF CAN I CLAIM FOR WORKING FROM HOME?

on Thursday, 31 January 2019.

Most business owners will do some of their work from home, but what tax relief can they claim for this?

In this month’s Q&A we take a look at HMRC’s guidance for home working costs and how to ensure that an unexpected Capital Gains Tax charge won’t apply when the house is sold.

03 December 2018

HOW DO THE PROPERTY AND TRADING ALLOWANCES WORK IN PRACTICE?

on Monday, 03 December 2018.

In April 2017 the government introduced two new £1,000 per annum tax-free allowances in relation to property and trading income.

In this month’s Q&A we take a look at the allowances, which are aimed at so-called micro-entrepreneurs using websites such as Airbnb and Ebay to supplement their income.

28 September 2018

HOW DOES INHERITANCE TAX TAPER RELIEF WORK IN PRACTICE?

on Friday, 28 September 2018.

Taper relief reduces the Inheritance Tax payable on gifts made during a taxpayer’s lifetime, providing they survive at least 3 years from making the gift.

In this month’s Q&A we take a look at the relief, which actually only applies to gifts over and above the Inheritance Tax nil rate band.

31 August 2018

Will Entrepreneurs' Relief apply if I sell a property used in my business?

on Friday, 31 August 2018.

Entrepreneurs’ Relief usually applies to the sale of business assets or shares in a trading company, reducing the Capital Gains tax rate to 10% for qualifying disposals.

In this month’s Q&A we take a look at whether Entrepreneurs’ Relief can be claimed on the sale of a property used by your business, but owned personally.
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KRW Accountants
The Mill, Pury Hill Business Park
Alderton Road, Towcester
Northants, NN12 7LS

emailmail@krwaccountants.co.uk

phone01327 810373

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