Posted in Capital Gains Tax
Currently, if a property has been occupied at any time as an individual’s main private residence, the last 18 months of ownership are disregarded for CGT purposes. This relief applies even if the individual was not living in the property when
Continue readingPosted in Income Tax
The Blind Person’s Allowance is an extra amount of tax-free allowance made available to those who are eligible. The allowance for the current 2019-20 tax year is £2,450. If both spouses / civil partners are eligible, they will both get an
Continue readingPosted in Value Added Tax
Important changes to the VAT rules for building contractors and sub-contractors are coming into effect from 1 October 2019. In a nut-shell, if you are subject to the Construction Industry Scheme (CIS) and if you are registered for VAT, from the 1
Continue readingPosted in Value Added Tax
A compulsory VAT deregistration is usually required if you:
Stop making taxable supplies
Sell your business
Change legal status
Disband a VAT group
Join a VAT group
Join the agricultural flat rate scheme
A voluntary VAT deregistration can
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