Norwich Accountancy Services are delighted to announce that we are supporting Norwich City Football Club as a regional partner for the upcoming premier league season. Ben Tunnell, head of commercial development at Norwich City, said: “We’re delighted to welcome Norwich Accountancy Services onboard as our latest regional partner. Whilst the Premier League ensures the club […]
What are the changes to capital gains tax? Looming on the horizon are some most unwelcome changes in the way that UK taxpayers will have to report and pay for capital gains tax (CGT) on residential properties in the future. Jon Hook, managing director at Norwich Accountancy Services, discusses. (These changes will not apply to […]
Tax Claims For Buy To Let. The good news is that there is very little expenditure incurred on rental properties that is disallowable in the strict sense. For example, when a landlord makes a capital improvement to a property, such as adding an extension, it should still be allowable, but only when the property is […]
Rent-a-room relief was introduced in 1992 to provide an incentive for people to rent out spare rooms in their homes. The aim was to free up more low-cost rental accommodation and enable workers to move around the country without incurring massive hotel bills for medium to long-term stays. Since its introduction, there have been significant […]
It was introduced by the Finance (No 2) Act 2017 and as such will be relevant to all 2017/18 tax returns being prepared now. It is bad enough that it applies seven months before the relevant legislation was even enacted, but to make matters worse, if the landlord’s circumstances meet the relevant criteria it applies […]
So, another budget day has passed and Chancellor Rishi Sunak has set out his measures in his March Budget. Covid-19 has had a huge influence on the measures he has put in place this year. The Covid-19 vaccine rollout has been given a £1.65 billion cash injection to ensure it continues to be a success. […]
Earlier this year saw the introduction of the profound changes to the taxation of buy-to-let investments, leaving landlords scrambling around trying to protect themselves from higher tax bills due to the reduced deductibility of mortgage interest. Buy-to-let investors who are also higher rate taxpayers can no longer offset all of their mortgage interest against rental […]
