Guides and financial publications

Recent financial, investment and tax news.

Click on the links below for financial and tax news and comment across a range of matters.

Tax Planning for Life 2020-21 TPL 2020 21

Our Tax Planning for Life 2020-21 guide navigates you through a wide range of planning opportunities and strategies for all stages and facets of life: from childhood to working/business life and onwards to those happy golden years of retirement and semi-retirement.

What's in this year’s guide?

Your starter for 10 taxing questions.
Strategies, tactics and formation to reduce your tax bills.
Working life: dividends, research and development, selling assets, business asset disposal relief (formerly known as Entrepreneurs relief).
Estate Planning: if you don't want to give direct, you could consider a trust.
Thinking of selling or passing on the business? Read our succession planning tips and 5 point plan.
Capital Gains tax - changes from 6 April for UK property.
First time buyer or purchasing a second home?
Savings and investments: don't dismiss annuities.
Protect yourself against the unexpected.
Key moments in our financial life.

UK Business and personal tax rates 2020-21 >click here to download

 

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Covid-19: Support for businesess, individuals and third sector organisations

We have summarised the various announcements that have been made by the UK and Scottish Governments to support businesses, employers, employees and the self-employed during this period of disruption >read more

 

 

Investing in residential property?MACO TPL Family home purple

We are often asked whether it is more beneficial to hold property personally or in a company. More often than not, our response is: it depends.

There is no simple answer and there are number of factors and options to consider, each having benefits and potential drawbacks depending on your circumstances.

This short guide outlines the tax, financial and commercial considerations: incorporation, extraction of funds, ownership, disposals, income, succession/IHT and ATED (Annual Tax on Enveloped Dwellings).

Click here to download our short guide.

 

 

Business Succession and IHT 19796 MACO FINANCIAL ACUITY NEWSLETTER WEB FILES 03

Where and when to start?

Our advice is to start the succession planning process early and give it the time that is needed, as opposed to the time that is left.

You may not have all the answers you need at this stage, but by taking some time to go through the initial questions, scenarios and options with us, you will have more of the answers you will need to progress your succession strategy as your contemplate life beyond work and running the business.

5 STEP planning process

Our 5 STEP planning process will help you to consider all the options, decisions and choices you will be faced with. We have outlined the key stages in our short guide to Business Succession >read more

 

Tax saving ideas for businesses MACO invest

Are you taking advantage of capital allowances?

Quite simply, capital allowances can reduce your annual tax bill. They can be claimed for some types of capital expenditure, but generally speaking anything that is used for a business purpose that has a useful life of two or more years may qualify.

They are treated like any other expense and can be deducted from your profits, or added to a loss, when calculating your taxable profits at the end of the financial year.

Download our guide to captial allowances

  • What type of assets qualify?
  • What allowances are available?
  • When should you seek advice?

Get in touch with us today to discuss your capital allowances claim. Get in touch with Tricia Halliday, Tax Director

 

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