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Month: September 2020

Tax tips

Which home qualifies for private residence relief?

19 September 202019 September 2020Cris Cox

Private residence relief removes the charge to capital gains tax on the taxpayer’s only or main residence. For the purposes of the relief, a taxpayer can generally only have one residence qualifying for the relief at any one time, subject to the final period exemption for properties which have been the only or main residence…

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COVID-19 • Tax tips

Reduced rate of VAT for hospitality and leisure

5 September 20205 September 2020Cris Cox

The hospitality and leisure industries have been severely affected by the Coronavirus pandemic. To help businesses in these sectors to get back on their feet, a reduced rate of VAT of 5% rather than the standard rate of 20% will apply to certain supplies for a limited period, from 15 July 2020 to 12 January…

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