Capital gains tax (CGT) is payable when you sell an asset that has increased in value since you bought it. The rate varies based on several factors, such as your income and size of gain. For residential property, it maybe 18% or 28% of the gain (not the total sale price).
- Portfolio management
- Property management
- Self Assessments
Inheritance tax (IHT) is the tax on the estate, which is passed on due to the owner being deceased. The estate includes the property, money and possessions. This transfer rate was created on the 18th of March 1986. Working hard all your life being taxed, just to pay taxes after death. It is a tough […]
When a business owner receives a notice stating that their tax return or their business is going to be audited, the first thing they should do is seek professional tax advice. This is common for all types of people; when they receive collection letters, they should get professional tax advice. Many issues can arise as a result of a failed tax payment.
With technological advancements driving the way we live life in the present and future, it is no doubt that artificial intelligence has its beneficial uses for assisting accounting services. In fact, AI is taking over more traditional accounting duties than ever before- speeding up the process of data inputting and report building. However like all […]
With Covid-19 restrictions slowly winding down, many more businesses find themselves starting work up again. This, of course, rings true for those who are self-employed, too. With big companies it can be easy to get back into the swing of things, with many different employees able to handle the niche necessities of their business. Being […]
Are you waking up in the early hours of the morning, stressing about whether you’ve completed your tax returns? Are you overwhelmed by your finances and handling your personal and business accounts? Have you ever thought to get a profession to lift these burdens once and for all? Here at Carrington Blake Accountancy, we help our clients with stress-free accounting solutions to make life easier. Continue to read to find out more about how an accountant can help rid yourself of financial nightmares.
If you are at risk of being audited and examined, the first thing you should do is seek professional tax advice. Similarly, if you receive collection letters threatening your wages or the tax levy letter for your bank account, you should seek professional tax advice. Thus, this blog is going to outline which tax issues […]
VAT is a standardised tax that most businesses and individuals must contribute towards. It stands for Value Added Tax, and as the name suggests, it’s collected any time value is added to a product or service. The VAT paid goes towards Her Majesty’s Revenue & Customs (HMRC) when they sell or hire out goods or services. There are some exceptions, such as sales outside the UK. However, for many businesses, VAT applies to every sale.
Self-assessment tax is an important type of return that you need to be aware of. Typically, tax is automatically deducted out of your wages, pension or savings. But, if you receive income from somewhere else (such as a business) you may need to file a return.