News & Views
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Investing in commercial property? A significant proportion of your spend may qualify for tax relief
Investing in capital assets such as commercial property and equipment offers invaluable tax incentives. At YesTax we are able to compliment the work of your accountant and undertake a full survey and valuation exercise, typically, where expenditure is incurred on building projects to either extend, fit-out or renovate your commercial property space. A specialist exercise ensures you secure the full value of your capital investments in support of future growth.
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Affinity2020 Update
Last month, we shared how we provided support to a young woman and her child, who had to flee an abusive partner. We assisted in securing good quality temporary accommodation for them while they await appropriate rehousing by the Council.
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It’s patently clear… Patent Box tax relief is on the rise!
The latest statistics have been published by HMRC, and it is clear that more tax relief is being claimed by clients with intellectual property than ever before.
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Affinity 2020 Charity Donation
We were approached by Charlotte at Affinity to see if we could help a particular young woman and her young child. This young woman has suffered at the hands of her partner and is needing somewhere permanent to live.
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Action required for companies with 31 March 2024 year ends that undertake R&D
As you may be aware, the Advance Notification requirement for companies undertaken research and development activities was introduced for accounting periods beginning on or after 1 April 2023. Whilst this requirement has been around for close to 18 months, the vast majority of companies will not yet have been affected by the rules.
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Buying commercial property? Here’s what you need to know so you don’t miss out on capital allowances.
Capital allowances apply to all properties across the commercial sector, and the relief often comes back in the form of a tax rebate and an ongoing reduction in your tax bill. When you are purchasing a commercial property, it’s important you benefit from what is available to you, such savings can make a property purchase much more viable.
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News about the Furnished Holiday Lettings Capital Allowances – Don’t miss your chance to claim
Back in the March Budget the then chancellor Jeremy Hunt announced the withdrawal of the Furnished Holiday Letting rules. We awaited more detail but nothing was forthcoming before parliament dissolved for the election, leaving the future of FHLs in limbo. Now we have finally learned how the new government will be proceeding on FHLs. The withdrawal of the relief will go ahead and they’ve released guidance and draft legislation setting out the details.
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Advance Notification - do you know the rules?
Companies are required to inform HMRC, in advance, of their intention to make an R&D claim. They will need to do this, using HMRC’s digital service, within 6 months of the end of the accounting period to which the claim relates – referred to as the claim notification period.