Author: Admin101

Business Capital Gains Tax: What you pay it on You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) all or part of a business asset. Business assets you may need to pay tax on include: land and buildings fixtures and fittings plant and machinery, eg a digger shares registered trademarks your business’s reputation You’ll need to work out your…

You pay a different rate of tax on gains from residential property than you do on other assets. You do not usually pay tax when you sell your home. If you pay higher rate Income Tax If you’re a higher or additional rate taxpayer you’ll pay: 28% on your gains from residential property 20% on your gains from other chargeable assets If you pay basic rate Income Tax If you’re…

Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive. Example You bought a painting for £5,000 and sold it later for £25,000. This means you made a gain of £20,000 (£25,000 minus £5,000). Some assets are tax-free. You also do not have to…

Time consuming, boring, difficult but necessary – that’s what most people think when you mention the word bookkeeping. That’s why Your Tax Help bookkeeping services will leave your precious time for running your business. Whether you are a freelancer or a small to medium sized business, we are here to help to free up your mind. Our staff will make sure your company’s books are maintained precisely ensuring your finances…