Reader’s question: I am a sole trader and have machinery worth £20k. If I transfer this to a Limited company by selling it to the company and setup as a director loan in the company, how do I treat this from a self-assessment point of view….do I pay CGT on the £20k?[continue reading…]
capital gains tax
If you are classed as self-employed or have a source of untaxed income, you will be required to complete a Self-Assessment. However, this criteria is vague and many are left confused as to whether they actually need to file the tax return or not.
Getting tax right requires careful planning. Whether you are a sole trader, a business owner with staff, or a higher rate taxpayer, you need to be talking to your advisors and keeping your eye on the ball.
Here are the main small business tax rates and allowances for the tax year of 2019/20.
Here are the main small business tax rates and allowances for the tax year of 2018/19.
Here are the main tax rates and allowances for 2017/18, that are most relevant to small businesses.
Entrepreneurs’ Relief was created to incentivise people to set up and grow businesses by providing a reduced level of Capital Gains Tax on business disposals.
Making a capital gain is usually great news – paying tax on it isn’t! So here are some tax planning tips to help you reduce your Capital Gains Tax (CGT) bill.