Tel: 07712 856364
Email: jon@proactive-accounting.com
Landlords have been debating the question, “Should I incorporate” for years now. Back in 2017, the government began the phased introduction of restricting tax relief for residential property finance costs if you have earnings above the Basic Rate Tax Band (i.e. >£50,000). Before 2017 the single biggest tax allowable expense for most landlords was the…
One of the problems with the accountancy industry is traditionally that clients are obligated to take a lot on trust. Only an accountant is really capable of telling whether someone else is a good accountant, and for many business owners they have only the word of their current accountant to go on. This pattern tends…
Venture Capital Trusts (VCTs) offer similar tax breaks to individuals as the Enterprise Investment Scheme. VCTs are managed by a variety of specialist fund companies. At Proactive Accounting, we advise individuals on tax efficient investments in the Co. Antrim area. Some information about VCTs is given below. Venture Capital Trusts (VCTs) are complementary to the…
Husbands and wives are taxed separately and the tax position of any children is also a consideration. Marriage breakdowns can also have a considerable impact for tax purposes. We consider the relevant issues and the basic tax planning opportunities. If you live in the Co. Antrim area we, at Proactive Accounting can help you plan…
We consider the statutory residence test and outline rules and records required. If you live in the Co. Antrim area we, at Proactive Accounting, can provide advice on your individual circumstances. The concept of residence in the United Kingdom is fundamental to the determination of UK tax liability for any individual. The Statutory Residence Test…
The Seed Enterprise Investment Scheme complements the Enterprise Investment Scheme and is attractive to start up companies and investors in such companies. At Proactive Accounting, we can provide help if you are interested in financing your start up business in the Co. Antrim area or you are interested in providing seed capital to such businesses.…
On the basis that the investment in property appears to make commercial sense what tax factors should you take into account? If you are considering property investment in the Co. Antrim area we, at Proactive Accounting, can help you to make property investments in a tax efficient manner. Investment in property has been and continues…
Buy to let traditionally involves investing in property with the expectation of capital growth with the rental income from tenants covering the mortgage costs and any outgoings. If you live in the Co. Antrim area we, at Proactive Accounting, can help you sort out some of the potential problems that may arise and structure the…
Under self assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the tax payment rules and penalties for failing to pay on time. If you live in the Co. Antrim area we, at Proactive Accounting, can prepare your tax return on…
We summarise the self assessment rules and penalties for failing to comply with your obligations. If you live in the Co. Antrim area we, at Proactive Accounting, can prepare your tax return on your behalf and advise you on payments that may need to be made to HMRC. Under the self assessment regime an individual…