Many companies offer Tax Advantaged incentive schemes to employees as part of long-term incentive plan. These include: Share Incentive Plans (SIP) Save As You Earn (SAYE) Company Share Option Plans (CSOP) Enterprise Management Incentives (EMI) Share Incentive Plans (SIP) Employees can buy their employer companies’ shares with their …
When exiting a limited company, entrepreneurs need to extract retained profit from their company. Normally, profit taken from a company would be treated as dividends, and incur the corresponding income tax liability. However, a much-preferred option as we’ll see is to qualify for entrepreneurs’ relief and to treat profit as …
If you sell a residential property in the UK after 6 April 2020 and have capital gains tax (CGT) due, you must report the gain and pay the CGT within 30 calendar days of selling the property. Failing to report and pay, you will be subject to late filing and …
Owning buy to let properties through a limited company holds several advantages over owning the properties as an individual(s). This topic was discussed in a previous article. In this article we look at particular circumstances under which the two options can be quite close, this is because of another …
The Chancellor of the Exchequer recently announced a mini holiday from stamp duty on residential properties. The holiday lasts from now until next March, and all categories of buyers will benefit including landlords, first time buyers, and buyers who have owned homes before. Let’s look at how this works and …
Individuals can earn up to £7,500 rental income per annum tax free under Rent a Room relief by letting out furnished accommodation in their own home. The £7,500 is rental income, before any expenses are deducted. If the income is below £7,500 for the year, and an individual is not …
Venture-backed companies often grant Restricted Stock Units (RSU) to its employees as a form of incentive plan to encourage employees stay with the company for longer. The shares in RSU can be restricted (with no voting rights, for example) and only become available to employees after certain conditions are met, …
You may already be aware of the personal savings allowance. This offers an allowance of £1,000 of interest income for basic rate taxpayers, or £500 for higher rate taxpayers. (The allowance is not available to additional rate taxpayers.) Additionally, if you are a low-income earner, you may be eligible to …
Pension contribution is being used more and more as part of tax planning. Tax strategies involving pension can be highly effective in reducing your tax liability and are easy to implement. Higher rate and additional rate taxpayers will both benefit from these strategies, but to varying degrees. If you happen …
Rules for two ancillary reliefs on Capital Gains Tax (CGT) relating to rented residential properties are changing. Changes to final period of property ownership, and lettings relief will apply to property disposed of from 6 April 2020 onwards. If you are planning to sell a property within the next couple …