Capital Gains Tax on Second Homes

The rules regarding the capital gains tax treatment for a second property are quite complicated and commonly misunderstood. As soon as a second property is bought or becomes available example by the finishing of a letting period a principal private residence collection should be filed with HMRC. In practice there is two years in which to file the selection but here at Tuchbands we… Continue Reading

Gift Aid donations

This time of year a lot of people are making charitable donations. Last Wednesday I happened to give £20 to a registered charity collector and when I got home I found that I had won £25 on the Premium Bonds (true story!). There is an old saying that whatever you give you get back! The point of this message is that gift aid donations are a source of tax relief but only if they are recorded on yo… Continue Reading