Attributable to profits from patents and intellectual property From April 2013). 9.1% of expenditure (before tax) available as a “cheque in the post” from HMRC if it qualies as R&D – even if the company is loss-making. Excellent ideas – if the aim is to establish the UK as a hub of innovation.
Large companies corporation tax rate is reduced to 24% from 1 April 2012 Falling 1% each year until 2012 (to 22%) The small companies’ rate at 20%. Large companies have over £300,000 profits. Small companies have less. This is great for large companies – and investment from overseas. A good thing for investors and the […]
An increasing trend is the conversion of office space/storage space (above an office or shop) into flats. Bear in mind that you may have available one of the most generous allowances around- 100% capital allowances (tax deduction against income tax) on the expenditure subject to a few conditions: Qualifying flat Must be “dwelling” i.e. residential […]
An oft misunderstood rule is the 10% wear and tear allowance. This is one of the best tax allowances available for landlords. Essentially, 10% of rents (less any utilities/council tax/any other bills that a tenant would usually pay) is subtracted from the rent. However, you must choose between this treatment or the “replacements method” where […]
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