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Insights

Great tax tips, business insights and opinion
to help grow your business

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Business Services

Business Tax

Personal tax

Probate and Inheritance Tax

VAT

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All Articles

Business Services

Business Tax

Personal tax

Probate and Inheritance Tax

VAT

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60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.

Rishi Sunak’s super deduction policy, whereby companies  can claim 130% tax relief on investment made in plant and machinery between 1 April 2021 and 31 March 2023, was unveiled with huge fanfare. It was billed as a way to  boost spending, future-proof business and kick-start the economy.

Potentially all these claims are true, and the relief has certainly created a lot of interest. It has also provided a distraction from another big Budget announcement; the forthcoming increase to the corporation tax rate from 19% to 25% with effect from 1 April 2023; the day after the super deduction ceases to be available, and which will affect all companies with profits in excess of £50,000. (more…)