Makesworth Hampshire Ltd

Read this article to understand the advantages and disadvantages of running a property business through a company.

Read More: https://makesworth.co.uk/letting-property-through-a-company-weighing-the-tax-benefits-and-drawbacks/

Read this article to find out what you need to do to set up as a sole trader and when you need to register for self-assessment.

Read More: https://makesworth.co.uk/setting-up-as-a-sole-trader/

If you have gaps in your contribution record, you can pay voluntary contributions to fill those gaps. Read this article to find out when making voluntary contributions is worthwhile.

Read More: https://makesworth.co.uk/will-paying-voluntary-nics-boost-your-pension/

Looking to boost investment in your small or medium-sized business?

Learn how government-endorsed tax incentives like the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) can help!
Read more: https://makesworth.co.uk/government-endorsed-tax-incentives-boosting-investment-in-small-and-medium-sized-companies/

Read this article to find out when a VAT-registered business may have to repay VAT claimed under the 'payback' rules.

Read Here: https://makesworth.co.uk/vat-payback-and-clawback-rules-implications-of-changing-business-plans/

Discover how to utilize the gifts out of income exemption to transfer investment income free of inheritance tax.

Read this article to learn more!
https://makesworth.co.uk/investing-the-proceeds-from-the-sale-of-the-family-home-and-the-iht-gifts-from-income-exemption/

Should You File a Formal Complaint with HMRC? 🤔

If you're facing tax calculation errors, delays, or poor service, here’s a guide to help you decide whether to complain and what to expect. Read more about your options and rights.
Read Here: https://makesworth.co.uk/should-you-file-a-formal-complaint-with-hmrc/

During the Spring Budget, it was announced that the special tax regime for furnished holiday lettings would be abolished. Read this article to learn about HMRC's stance on the proposed 'brightline' test for determining whether FHL landlords are operating as businesses.

Read Here: https://makesworth.co.uk/brightline-test-for-furnished-holiday-lets-fhls-rejected-by-hmrc/

The dividend allowance has fallen in recent years. Read this article to find out whether you now need to pay tax on your dividends as a result, and how to tell HMRC.

Read Here: https://makesworth.co.uk/do-you-now-need-to-pay-tax-on-your-dividend-income/

Read this article to find out how the estate of a surviving spouse or civil partner can benefit from the unused portion of their partner’s nil rate band and RNRB.

Read Here:- https://makesworth.co.uk/inheritance-tax-transferable-nil-rate-bands/

Inheritance tax transferable nil rate bands Learn how inheritance tax and residence nil rate bands can be transferred between spouses or civil partners to minimize tax liabilities.

Read this article to find out how to ensure a payment made on retirement is tax-free.
Read Here:- https://makesworth.co.uk/tax-efficient-strategies-for-retiring-employees/

Tax-Efficient Strategies for Retiring Employees Understand when the £30,000 tax exemption applies to termination payments and the conditions under which different elements are taxed.

Read this article to discover the rules for waiving dividends.

Read Here:- https://makesworth.co.uk/do-you-have-to-take-a-dividend-reasons-why-not-to/

Do you have to take a dividend? Reasons why not to Understand why dividends can’t just be withdrawn from a company's account and the legal implications of 'illegal' dividends. Learn more here.

Read this article to find out about the tax implications of a company ceasing to trade.

Read here:- https://makesworth.co.uk/tax-implications-of-company-failure/

Tax implications of company failure Explore tax implications when a business fails, including loss relief strategies, asset sales, and distributions. Learn how to navigate tax liabilities effectively.

Filing your 2023/24 tax return ahead of the 31 January 2025 online filing deadline can be advantageous. Read this article to find out why.
Read Here:- https://makesworth.co.uk/advantages-of-filing-your-2023-24-tax-return-early/

Advantages of filing your 2023/24 tax return early The deadline for filing your 2023/24 Self Assessment tax return online is 31 January 2025.

Read this article to discover five common capital gains tax mistakes and how to avoid them.

Read Here: https://makesworth.co.uk/five-common-capital-gains-tax-errors/

Five common capital gains tax errors HMRC have revealed that every year lots of simple errors are made in tax returns in relation to capital gains tax

Read this article to find out when you can deduct the cost of replacement domestic items in a residential let in calculating the profits of the property business.

Read Here:- https://makesworth.co.uk/relief-for-replacement-of-domestic-item/

Relief for replacement domestic items To claim a deduction for the cost of a replacement domestic items, the following four conditions must be met.

Read this article to find out the tax position of a business partnership should one of the partners die.

Read Here:- https://makesworth.co.uk/partnerships-cessation-on-death-of-a-partner/

Furnished holiday lettings currently benefit from a number of capital gains tax reliefs. Read this article to find out whether it would be advantageous to dispose of your FHL before the favourable tax regime comes to an end on 5 April 2025.

Read More:- https://makesworth.co.uk/should-i-sell-before-the-end-of-the-furnished-holiday-lettings-regime/

Should I sell before the end of the Furnished holiday lettings regime? Furnished holiday lettings (FHLs) enjoy tax advantages not available to landlords letting residential property on long-term lets