The UK is renowned for having one of the most complicated tax systems in the world. Once facet of this is VAT, or Value Added Tax, which is currently paid on the purchase of some items. An in-depth look at the rules – what is VAT-able and what isn’t – throws up some unusual findings. […]
A common question we get asked by people is what travel expenses are tax deductible and what they can claim – such as whether they can claim their normal commute to work, hotel costs when on a business trip, those drinks at the airport bar. We’ve put together a short guide giving an outline to […]
When you are giving a valuable gift, such as an antique, family heirloom, cash, shares, or more expensive asset such as a house, you don’t really expect to have to pay anything. Yet depending on the circumstances – what the asset is, how much it is worth – there may be a tax liability to […]
Thinking of forming a limited company but don’t know where to start? You aren’t the only one. Our team of experts have compiled a handy list of commonly-asked questions about anything and everything you need to know – including what your obligations are, how to change your details and what you need to pay. Don’t […]
Fish and chips, bride and groom, knife and fork… some things just work better together. Whoever heard of Laurel without Hardy? Where would Torvill be without Dean? You get the picture. It is crucial you and your accountant work as a team too. We’ve heard countless stories about accountants who act like they are working […]
Stamp duty – or to give it its official title Stamp Duty Land Tax – is a tax on the purchase of land and property. It is calculated as a percentage of the ‘chargeable consideration’ – anything of economic value paid by the purchaser – above various thresholds. The table below (taken from the HMRC […]
Entrepreneurs Relief is a CGT relief available to taxpayers who sell or give away their businesses. Effectively, qualifying gains are taxed at 10%, rather than the normal rates (18%, 28%). It is available to the following people: Sole traders and partners selling the whole or part of their business. Company directors/employees selling a material stake […]
If you own your own home, there is normally no Capital Gains Tax (CGT) liability to pay on the sale of the property. This applies if two conditions are met: The property is the sellers only home, or main residence. If the seller owns a second property, the following applies to the property designated their […]
When buying a house, applying for a mortgage or bank loan, the process is normally straightforward. If you are employed, the lender will want to see some evidence that you are able to make the repayments – and will want to see the payslips and, occasionally, your bank statements. If you are self-employed, however, the situation is a […]
Looking for a London accountant you can trust? Look no further. At Howlader & Co we are fast, efficient and always fight our client’s corner – but you’d be shocked at some of the horror stories we hear. We’ve had to battle with HMRC to ensure one of our clients received hundreds of thousands of […]