Tax Consultant offers VAT planning support and advice on VAT on land and property. Discussing the position before issuing an uncertain invoice gives you time to establish the treatment and consider any related reporting work.
Selling an asset can raise capital gains tax questions. The calculation may depend on what you paid, the costs you can substantiate, how the asset was used and any reliefs that apply.
Worked example: A landlord sells a buy-to-let for a £50,000 gain and pays tax at the higher rate. After the £3,000 exempt amount, £47,000 is taxable at 24%, giving a bill of £11,280, due within 60 days of the sale completing.
Capital Gains Tax is charged on the profit made when an asset is sold, transferred, exchanged or given away. It is generally the gain that is taxed rather than the full amount received.
Although many taxes are governed across the UK, some rules differ in Scotland, Wales and Northern Ireland. It is therefore important to obtain advice relevant to where you live, work or own property.
SAS Accountants supports individuals, sole traders, landlords and limited companies in Heckmondwike. From routine tax compliance to business planning and HMRC enquiries, advice is tailored to each client’s financial position and future objectives.
Every successful business depends on accurate financial information. Sales, supplier payments, expenses, wages and tax liabilities must all be recorded properly if the business owner is to understand what is genuinely happening behind the figures.
Professional tax return services in Batley can remove much of this pressure. Instead of worrying about missing information, selecting the wrong sections or submitting inaccurate figures, you can receive experienced support.