When unquoted shares are involved, it is likely that HMRC's share valuation division will negotiate an acceptable value with you. The approach will differ according to whether you are disposing of a majority or a minority shareholding.
Individuals that own and let property are facing a number of changes to the way in which their rental income, and more importantly, the deductions they can make from their rents for income tax purposes, are changing.
1. An increase in the rent-a-room allowance.
2. The abolition of the wear and tear allowance if you let furnished residential property that is not part of a holiday lets business; and the introduction of a new replacement furniture relief.
3. The gradual restriction of higher rate income tax relief for finance costs.
A SHROPSHIRE and POWYS accountant is offering free advice sessions via Skype to help those living in remote rural communities who are concerned about the new budget changes.
Rob Ellis, Managing Partner of Welch and Ellis, which is based in Willow Street, Oswestry is offering free sessions to anyone who is interested, but is particularly keen to help those who live in remote and rural communities, or who may find it difficult to find time to visit an accountant for brief advice due to family or work commitments or health issues.