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Deadline for Reporting Capital Gains tax - Do I have to report them with the Self assessment Tax Return?

 How and when you report the capital gains depends on the type of gain you have made. Each time you sell something on which you are liable to pay Capital Gains Tax you have to report it to HMRC. There are different reporting rules in the following situations: If you have sold the property in the UK on or after 27 Oct 2021 If you sold the property and the completion date was 6 April 2020 and 26 Oct 2021. If you sold some other assets such as personal possessions such as jewellery , antiques provided they are £ 6000 or more, shares which you are supposed to pay capital gains tax. You do not pay capital gains tax if you sold your car unless you used it for the business.   If you sold the property in the UK on or after 27 Oct 2021. You will have to report and pay any tax due on the UK property within 60 days if the completion was on or after 27 Oct 2021. This means you should report it by 31 Dec 2021 . If you don't do this on time you will get a penalty from HMRC. If you sold the prope

Buying a new house before selling my old home what will be the tax implications?

If you are buying a new home and you already own it, you need to think about what you will do with your home. (in that case it will be your primary residence for both of you) and if you are buying one you should consider tax wisely. Want to keep your old home? Hire it? Or sell it ?. Time for everything is very important here. And there is no definite answer to what will save your tax costs. It all depends on your personal situation so it is best to talk to a financial professional who can give you personal advice. If you are buying a new home and are not selling an old one because you might consider renting it in the future you might consider the following taxes: Capital Gain Tax Stamp Duty Land Tax Income Tax Capital Gain Tax: You will have to   pay capital gains tax when you sell a property that is not your main home, used for any commercial purpose and you allow it. So if you buy a new house before selling the old one you will face CGT in any profits you will make. While you may no

Stamp Duty Land Tax (SDLT) Overcharge And The Non-Inhabitant UK Property Purchasers

  On the off chance that you are a non occupant keen on purchasing a private property in the UK you ought to know that from 1 April 2021 unique paces of SDLT will concern you. As a non inhabitant purchasing private property in the UK (either freehold or leasehold) you should pay 2 rate focuses higher than those paid by the UK occupants. The extra charge will concern you on the off chance that you are a non inhabitant and You are purchasing a private property. In the event that you are purchasing property which is either non private or a combination of private and non-private the extra charge won't concern you. The property is rented for over 7 years, if the rent was for a very long time or less on the date it was conceded then the extra charge won't concern you. You entered an agreement and it was significantly performed after 1 April 2021 or you traded the agreement after 11 March 2020. On the off chance that you went into the exchange before this date the extra charge won

How are Social Media, endorsements and other freebies taxed in the UK?

  With the expansion in the utilization of social media there is an increment through promoting known as ' influencer advertising' it is a developing industry and as indicated by business insiders it is on target to be valued at as much as 15 billion dollars by 2022. On the off chance that you are a social influencer making content on YouTube or Instagram and impacting thousands and some of the time a great many individuals all things considered, you are reached by certain brands who need to utilize your fame to sell their items. Influencer promoting will be as the accompanying: Paid posts. You may be given a few items to survey. You may be given some free items which you choose to discuss in your substance. Before you choose you need to pay tax on the paid posts , supports and gifts you need to consider a few elements which are clarified beneath yet as a dependable guideline consistently ensure that on the off chance that you are getting any kind of pay whether its excha

Best Accountants In Croydon - Taxaccolega

As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a small firm with the dynamic resources and experience of an established business. Our team of professional experts, who all are chartered accountants, is dedicated to helping you grow your business by diligently managing your finances and ensuring your long term security. As the affiliate partners of Simply Business, the leading insurance broker in the UK, we provide the very best insurance for your business at discount rates. Not only that, we also offer you a wealth of other privileges and services that we are confident will satisfy your customer needs. The benefits you receive include: Expert accounting Low fixed fee Face to face meetings Unlimited access to your account manager Unlimited internet and telephone support Free spreadsheets or bookkeeping software Promise to meet deadlines Assured quality We are the best accountants in Croyd