The Chancellor’s 2013 Budget contained some important announcements and confirmed a number of changes planned for the new tax year.
Following this, we are delighted to attach the Tuchbands Budget Report which contains the latest tax and financial information, which we trust you will find useful.
As a result there may be a number of changes that will affect you so please fee…
The special tax relief for flats over shops comes to an end on 5 April 2013. It may be renewed in next weeks budget but if the work is contacted for before 5 April, it can be claimed.
The main conditions to obtain relief are:
1. Maximum number of storeys- 4;
2. The flats must have been unoccupied or just used for storage for at least a year before conversion work starts;
3. The flats must be l…
The Statutory Residence Test comes into effect on 6th April.
For non UK residents and those planning to be non resident now is the time to plan for the new regime.
The new rules are summarised as follows:
You are automatically UK resident if:
1. If you spend more than 183 days or more in the UK or
2. You have a home in the UK for at least 90 days, you are present in that home for at least 30 separ…