Persons with Significant Control (PSC)

Companies House have issued guidance on how to identify a company’s PSC. A PSC is someone who owns or controls a company. Generally, a person who owns more than 25% of the company’s shares or more than 25% of the …
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Private Residence Relief on Capital Gains Tax

For property disposals after 6th April 2020 the rule regarding relief between purchase and beginning of residence have changed. The relief can be claimed if all the following conditions have been met: 1. The time at which the property or …
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Additional Costs for Non-Residents Purchasing Property in the UK

From the 1st April 2021 Non-resident individuals, companies (including certain UK resident companies controlled by non-UK resident persons), trusts and partnerships will be charged an additional 2% Stamp Duty Land Tax (SDLT). Therefore, it is worth bringing forward any planned …
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Companies House Uploading Documents

Until this month a company had only be able to deliver forms by post or at the one of the Companies House offices. In response to increased delays in processing paper forms due to the pandemic Companies House have developed …
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HMRC Worldwide Disclosure Facility

If you are resident in the UK and receive income or have assets or carry on an activity outside the UK that would be subject to tax in the UK you may have to declare these in your tax return. …
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Deferred VAT payments due to coronavirus

The government have announced changes to the scheme for businesses who deferred VAT payments due from the period 20th March to 30th June 2020. Originally payment was due in full by 31st March 2021, now you can elect to pay …
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Business Pre-Trading Costs

If your business is as a sole trader or partnership you can claim for purchase expenses before you start to trade. Your expenses could be Revenue or Capital in nature. Your Revenue expenses are allowable in the year of purchase. …
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