Search Results for "claim tax relief"

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CGT Incorporation Relief

CGT Incorporation Relief

Where a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market value of the business assets including goodwill. This could give rise

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CGT Rollover Relief

CGT Rollover Relief

Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief

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Tax on savings interest

Tax on savings interest

The UK’s 2023-24 tax relief measures include the Register of Overseas Entities and Personal Savings Allowance. These initiatives enhance transparency, encourage savings, and provide opportunities for taxpayers to rectify over payments, demonstrating the government’s commitment to fairness in the tax system.

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Tax and working from home

Tax and working from home

Employees can claim tax relief for work-related expenses. Employers may reimburse up to £6 per week. Unreimbursed, employees can claim from HMRC based on their tax rate, with backdated claims up to 4 years. Additional relief may apply to vehicle use.

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Business Asset Disposal Relief

Business Asset Disposal Relief

Business Asset Disposal Relief (BADR) offers a 10% tax charge on business exit. Formerly known as Entrepreneurs’ Relief, it applies to business sales, share disposals, and trading partnerships. Claim up to £1 million lifetime limit.

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New tax credits for film, TV and game makers

New tax credits for film, TV and game makers

Effective from January 1, 2024, the creative sectors witness tax credit reforms, offering increased relief for qualifying productions. Animation, children’s TV, and films benefit, and credits are now calculated directly from qualifying expenditure. Extension and higher rates provided, supporting adaptation until 2027.

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Working from home tax relief

Working from home tax relief

Employees working from home can claim tax relief for work-related bills, with employers reimbursing up to £6 weekly. If not reimbursed, direct claims to HMRC are accepted for up to 4 years. Note potential eligibility impact from voluntary home working and past COVID-19-related claims.

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