Tax Tips

The Langdowns DFK Year End Tax Guide 2018/19 shares some important tax and financial planning tips which should be considered prior to the end of the tax year.

Today (6th March 2018) marks the start of the new tax year. With this in mind, here are 5 tax changes that may affect your finances for 2018/19.

Those of you that know me will probably have heard me go on about Bitcoin over the last five years. It’s a technology that I’ve been interested in for a while and even looked at making Langdowns DFK one of the first accountancy practices to accept Bitcoin. However, volatility and the general stigma attached to Bitcoin put us off going down this route; how I rue that decision now!

Like many organisations HMRC are trying to embrace all things digital, with their current plans called ‘Making Tax Digital’ (MTD). The innovation of MTD has been building for years and has actually been implemented successfully in other countries already. The real question is “How is this going to affect me?”

Over the last few years the Government have introduced legislation to discourage ownership of buy to let properties, starting with the additional stamp duty (extra 3% on the entire purchase), to the most recent tapering of interest rate relief on loans. However, many of us still like the idea of investing in property and the perceived certainty of bricks & mortar, so is there an alternative that has been somewhat overlooked?