PLANNING TO SELL A PROPERTY IN 2020, YOU SHOULD READ THIS!

Are you selling residential properties in 2020? There are proposed new changes to declaring capital gain on residential property sold from April 2020. These changes will be very massive and would affect individuals selling residential properties. Who will be affected when selling residential properties? People affected by these changes include individual taxpayers, not companies disposing […]

THE SELF-ASSESSMENT SYSTEM IN THE UK

Self-assessment system in Uk

Self-assessment system is used by the HMRC to administer and collect tax from taxpayers in the UK. Most UK taxpayers’ tax is collected at the source, however, some taxpayer under this system have to administer their tax by themselves. If not administered well, they are given penalties and made to pay interest on unpaid tax. […]

WHAT TO WATCH OUT FOR WHEN INVESTING ON CAPITAL EXPENDITURE

Claining tax relief on Capital Expenditure

  Business must invest in capital expenditure so as to be more productive. It might either be just a computer to a factory or to special machinery in a factory. The business owner usually always want to have tax relieve on these investments as soon as they would if they were revenue expenses. THE DIFFERENCE […]

Taking the offer before it is too late

By Ola Sulaimon IN the UK, individuals that earn income from letting property normally pay tax on their rental income. The tax would be applied on the rental profit rather than the rental income. At Ronzl accounting firm in the United Kingdom, we also support individuals that are trying to take advantage of the property […]

How to reduce capital gains tax when selling your business.

Business Enterprenuer Relief

When there is a disposal of a business or investment, it is a chargeable event to capital gains tax. The tax is charged on the gain, not the actual amount received. This rate of capital gains tax can be 10% or 20% depending on if you are a basic or higher rate taxpayer. Business claiming […]