What landlords need to know about Making Tax Digital
Making Tax Digital (MTD) has already impacted VAT, with income tax and corporation tax due to follow in the coming years. There are significant implications for those who pay income tax via self assessment (ITSA), including landlords with taxable income of more than £50,000 a year. In this article, Clayton & Brewill highlights what landlords […]
Key takeaways from the Autumn Statement 2022
From tax increases to tighter public spending, Chancellor Jeremy Hunt has unveiled his plan for the UK to “weather the economic storm” in his Autumn Statement. The chancellor outlined the government’s medium term fiscal plan to put public spending on a sustainable footing, get debt falling and restore stability. He began by acknowledging that the […]
Which mini-budget tax cuts have been reversed?
Having been appointed as chancellor last week following Kwasi Kwarteng’s resignation, Jeremy Hunt has dismantled many of the policies announced in the former chancellor’s September mini budget in a major U-turn for Liz Truss’s government. The new chancellor, who brought forward his fiscal statement by two weeks in a bid to stabilise financial markets, made […]
Mini budget 2022: the chancellor unveils plan for growth
From income tax to stamp duty and national insurance, Kwasi Kwarteng’s first announcement as chancellor proved to be far from the ‘mini’ budget that had been expected. Clayton & Brewill provides an overview of the mini budget 2022 and what it means for businesses. UPDATE 17th October 2022: please read our update to this article […]
Furnished holiday lettings: how to preserve your FHL status?
Furnished holiday lettings (FHLs) have their own tax treatment, reliant on a set of strict day-count rules. With the impact of Covid-19 on occupancy, business owners may need to take stock of their position, as Nottingham chartered accountants, Clayton & Brewill, explains. There are special tax rules for rental income from properties that qualify as […]
Section 21 notice changes: an update for landlords
The government has announced its plans to abolish the use of Section 21 notices, with landlords now expected to use Section 8 if they wish to evict their tenants. This change coincides with the Tenant Fees Act 2019 coming into place last month, which has capped the amount allowed for a tenancy deposit and banned […]