Latest News
Should Directors/Shareholders Take Advantage of 2.25% Interest?
HMRC OFFICIAL RATE OF INTEREST REMAINS AT 2.25% HMRC have announced that the official rate of interest will remain at 2.25% for 2024/25, despite the Bank of England Base Rate currently standing at 5.25%. The official rate of interest is used to calculate the income ...
Investing In An Unquoted Trading Company
If you are considering lending money to, or subscribing for shares in, an unquoted trading company then, like many investments, there is always a risk that you may lose your money. However, there is potentially tax relief for the lender if the loan meets certain ...
Changes To Furnished Holiday Lettings From April 2025
As announced in the Spring Budget, the beneficial tax treatment of furnished holiday lettings (FHLs) will be abolished from 6 April 2025, when the business will start being taxed in the same way as other residential property businesses. Owners of properties that currently qualify as ...
March 2024 Budget Breakdown
On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters. But on the heels of Britain ...
Types of Savings and Investments
Types of Corporate Savings and Investments Corporate savings and investment strategies enable organisations to manage liquidity, mitigate risk, and optimise returns on surplus cash. Unlike personal finance tools, corporate vehicles must align with treasury policies, cash‑flow cycles, regulatory constraints, and broader strategic objectives. 1. Corporate ...
Jan 2023 – CNFP Strengthens Team with Multiple Senior Promotions
As part of the ongoing development of the firm, Clarke Nicklin Financial Planning have made some significant changes to the team. Christian Evans who has been managing the CNFP team for over 10 years has now moved into the role of Director for the business ...
Nov 2022 – Declare your state pension correctly
HMRC urges you to declare accurately every figure on your tax return, but the Department for Work and Pensions (DWP), which pays state retirement pensions, doesn’t make this easy. Payers of occupational pensions issue a P60 certificate every year to show exactly what amount of ...
Oct 2022 – New Graduate Trainee for CNFP
Clarke Nicklin Financial Planning is delighted to welcome new graduate trainee Amelia Herbert to the team. Amelia joins the team straight from college, with a level 3 in financial studies and is looking to progress her career further in financial services. Amelia Commented, "I’m very ...
June 2022 – Registering foreign owned properties
Owning UK property through overseas entities is about to become a far more transparent affair. Companies, trusts, partnerships and similar entities, which own UK property and are governed by the law of a country outside of the UK, will soon have to register with Companies ...
Apr 2022 – Declaring Your Gain Correctly
Declaring your gain correctly Capital Gains Tax (CGT) will generally be due when you sell a second home or investment property. When you sell or transfer a UK residential property, you must declare any gain through your UK Property Account. This report must be made, ...
Apr 2022 – Maximising Tax Relief on Company Pension Contributions
Maximising tax relief on company pension contributions Employer pension contributions are very tax-efficient. They will become even more so from April 2023, when corporation tax (CT) is increasing for companies with profits exceeding £50,000 to a minimum of 25%. Company pension contributions are free of ...
Mar 2022 – Tax Free Rent
Tax-free rent When you let rooms in your own home as residential accommodation, you can receive the rent tax-free if it falls within the limits for rent-a-room relief. This relief is currently capped at rents of £7,500 per year. Where more than one person receives ...
