If you have a dormant company you may receive a letter from HMRC asking you to confirm that no tax is due. You may need to do this even if you have already told HMRC that your company is dormant.
Investigation, enforcement and data sharing. Keys to solving crime. New filing requirements at Companies House
Instead of increasing the residential property tax rates, the Chancellor opted instead to increase the main rates of CGT – the lower rate will rise from 10% to 18% and the higher rate will rise from 20% to 24%. The changes take effect from 30 October 2024. There are no changes to the residential tax rates, which remain at 18% and 24%. The rates continue at this level for 2025-26. The increases in the main rates of CGT means that this tax is charged at the same rates (18% or 24%) regardless of nature of the assets disposed. PLANNING NOTE: Landlords will be relieved that the higher residential rate will remain at 24% until at least 5 April 2026. However, where a landlord is planning to sell, it may be prudent to do so while the 24% rate remains available, as beyond April 2026 nothing is guaranteed. If you are considering disposals of assets affected by CGT please call so we can consider your options.
Our "Book a Call" service is designed to help you—the owner—to proactively review and plan your finances.
Do you feel that budgeting is all far too complicated and you are too busy to deal with it? All too often, business owners find themselves saying, "if only I had known," or wondering what they "could have done" differently. If this sounds like you, that is precisely why you need to book a call.
The call will be conducted by a Qualified Accountant, who will have reviewed your affairs beforehand. For the most productive session, you will need to be open and frank in your discussion. The key points will be documented for your future reference.
We want all of our clients to succeed and prosper, which is why we are putting our time and resources aside to help. Help us help you and your business by getting in touch.
This service is exclusively available to our current clients.
If you have a package that includes planning, this is a free service. If you don’t have a package, don’t worry – we are offering this at a simple low price to ensure you get not only value for money but also peace of mind that you have considered all the options and checked everything.
© 2024 Brookwood Accountancy Limited is a company registered in England and Wales Registration Number: 03734519
Registered Office: The Old Post Office, 19 Banbury Road, Kidlington, Oxford OX51AQ
Call us: 01865 842 266