Minimise your VAT charges & make more profit
A limited company can have many benefits, including reduced tax bills.
A £10,000 trading loss could be worth £4500 tax relief in one year and £0 in the next, or vice versa.
So choosing where and when you offset is worth proper consideration.
If you qualify for PPRR you also qualify for Lettings Relief, and the deemed occupation rules mean multiple properties could qualify all at the same time!
Landlords encouraged to spend!
Its one or the other and you are responsible for applying the correct rate.
Get it wrong and either HMRC or your customer will quite rightly expect you to pay.
Does MTD impact you on 1 April 2019?
MTD - are you and your software ready?
Perhaps the easiest way to make significant tax savings?
The proposed withdrawal of some of the tax benefits associated with Principal Private Residence Relief means it might be worth considering selling before April 2020