News

Capital Allowances for Commercial Properties

Capital allowances for commercial property

From 1 April 2012 capital allowances in respect of commercial property are due at a rate of 8% in respect of integral features and 18% in respect of other fixed plant and machinery. The Finance Bill 2012 introduced revised legislation in respect of claims to capital allowances on commercial property following on a change of ownership. This revised legislation may have a dramatic effect on the availability of capital allowances to the new purchaser of a property post 1 April 2012. This will affect all sales after 1 April 20...

Read article
Patent Box Regime

Patent Box Regime

The Patent Box Regime has been introduced with effect from April 2013 to encourage innovation by enabling companies which derive profits from patented technologies to elect to be taxed at a tax rate of 10%. Companies that own or have a licence over patents granted by the UK Intellectual Property Office or the European Patent Office can elect to apply the scheme which then enables worldwide patent profit arising from the UK/European patents to be taxed at an effective rate of 10%. We Can Help You If you wish to discuss your potential claim...

Read article
Research and Development Relief

Research and Development Relief

Research and Development (R&D) Relief is a Corporation Tax relief that may reduce the company's tax bill or, in certain circumstances, generate a loss which may be surrendered in exchange for refundable tax credit. There are two schemes available with differing rates of relief, depending on the size of your business. Qualifying R&D Projects R&D Relief is available if an R&D project ‘’seeks to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of...

Read article
Cash Accounting

Mortgage payments on buy-to-let properties

Rothmans Salisbury are happy to advise on all aspects of tax and accounting, including property taxation. If you own a buy-to-let property, on your tax return you can deduct your mortgage payments from only the interest element of the rent you receive. If you have an interest only mortgage then you can include the whole amount you pay. If it is a capital repayment mortgage you will have to split out the interest charged and only enter that on your tax return. The statement you receive from your mortgage provider should show the interest y...

Read article
Pensions auto-enrolment Seminar

Pensions auto-enrolment seminar

11th September: Government pensions expert to be key speaker at Rothmans Accountants Business Seminar EVENT: Pensions Auto-Enrolment Business Seminar DATE: Wednesday, 11th September 2013 TIME: 7 pm LOCATION: Rhinefield House Hotel, Brockenhurst SO42 7QB This seminar on one of the biggest changes in pension regulation in the last hundred years, auto-enrolment, will give business managers and owners the chance to get the facts from the people who helped shape the legislation. Employers will also be able to quiz the expert panel on the new...

Read article
Advantages of claiming Child Benefit

The advantages of claiming Child Benefit

Rothmans Salisbury are happy to advise on all aspects of tax and accounting, including Child Benefit. A couple earns £65,000, which is above the £60,000 threshold limit. It can be assumed that if they claim the benefit they will have to pay it all back in tax, however as it is only the higher earner’s income that is taken into account and as this income is below £60,000 only a proportion of the benefit will need to be repaid. Based on an income of £55,000 you will repay 50% of the benefit received in a tax year...

Read article
Menu