Businesses across the world right now are being painfully reminded that cashflow is king, and of course, taxes are a critical part of your finances.
This 8th edition of LT4L News looks at help available to businesses and landlords impacted by Coronavirus, with a special feature on deferring your July Tax Payment on Account.
If you’ve been looking into this, you may be considering a restructure of your property business? This process needn’t be arduous and can sometimes take less than 8 weeks.
We remain here to help you understand the benefits and whether working with us could be the right decision for you, and you can begin the process of talking to us with our Free Initial Assessment or by calling us on 0203 735 2940.
Yours,
The Less Tax 4 Landlords Team
Inside Issue #8
- What is the impact of deferring your second 19/20 tax payments?
- A summary of Government support packages available
- Watch Chris Bailey’s weekly Q&A sessions on COVID 19 support packages
- Capital Gains Tax Case Study
Payments On Account and Deferring your Second Tax Payment
The government are allowing all landlords who made a tax payment on account in January 2020 to defer their second 19/20 tax year payment from July 31st 2020 to January 31st 2021.
This is an especially welcomed move by the government whilst cash-flow is tight, but it does mean landlords may need to plan further into the future than they might normally do. Find out more by clicking read our blog.
You can also hear from LT4L Co-Founder and Group Director Malcolm Rose in this 6-minute video that looks at what was happening in the market before Covid-19, what the Payment on Account deferral could mean for your business, and how becoming tax effective in 2020 could significantly reduce your tax payments in 2021 and beyond.
Latest Videos, Blogs and Case Studies
Releasing Capital to Pay S24 Tax Increases
In this extract from one of our private events for portfolio landlords, Chris Bailey looks at what happened to one family business when they started to sell long-held assets to help meet their tax liabilities, and how after meeting LT4L they were able to turn this around. Watch the video here.
COVID-19 Q&A
Watch episode 8 of COVID-19 Q&A by Chris Bailey that covers Self Employed Income Support Scheme, Furlough and the Bounce Back Loan (BBL)
Business Support – A summary of the help available during COVID-19
If you are looking for a quick summary of all the different options of Government Support for Businesses, including the bounce back loan, then a round-up can be found in our blog.
Options for the Self Employed during COVID 19
“Am I eligible for the self employment grant and how can I apply?” Find out more about the eligibility criteria and what you need to know here.
Job Retention Scheme – If you have staff on PAYE
Useful Resources
This blog covers a summary of useful resources, from a list of government help schemes, how to help tenants claim benefits and practical advice for landlords, then this blog will help.
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