Harnett Accontants

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  • Harnett Accountants In Twickenham Answer Your Questions On Capital Gains Tax

    Tax Insights

    Harnett Accountants In Twickenham Answer Your Questions On Capital Gains Tax

    Harnett Accountants in Twickenham were asked by one of our clients whether he would still get the lower 10% rate of capital gains tax on any profit he made on the sale of his furnished holiday letting property, even though it hadn’t been let for 2 years.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    were more than happy to inform him that he could. As long as any property is sold within three years of the date the holiday lettings business ceased you will qualify for entrepreneur’s relief on the gain. This relief gives you the lower 10% rate of CGT after deduction of your annual exemption, for gains of up to £10 million per person.

    Don’t forget that offer a free one hour, no-obligation consultation for all clients and you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
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    Need help with capital gains tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants In Twickenham: The New Workplace Pensions Cost

    Tax Insights

    Harnett Accountants In Twickenham: The New Workplace Pensions Cost

    Harnett Accountants in Twickenham are here to tell you that a compulsory pension scheme for all employees is to be introduced over four years from October 2012.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    The largest employers (120,000 or more employees) will be forced to sign up first. Those who employ less than 50 workers will be required to take part in the scheme from a date sometime in 2014 to 2016, depending on their PAYE reference number. Only one-man companies, workers aged under 22, over state retirement age or those paid less than £7,475 will be exempt from the scheme. If employees want to opt out they have to make an active decision to do so and sign a form. The employer will not be permitted to induce employees to opt out, or to screen out potential employees who do not wish to opt out of the pension scheme.

    Employers and employees will be required to make contributions to the pension scheme totalling 8% of the workers earnings, including tax relief given on the employees’ contributions. The employer must contribute at least 3% of the workers’ earnings. This level of compulsory contributions will be imposed gradually over five years to 2017.

    Employers can still use an existing pension scheme, set up a new one, or use the new low cost Government pension scheme, NEST (National Employment Savings Trust). If using an existing scheme the employer will have to certify that it meets all the requirements of the compulsory pension saving scheme and register with the pensions regulator.

    Harnett Accountants in Twickenham advice that you talk to your pension scheme provider to prepare for these new regulations, alternatively, we offer a free hour no obligation consultation. You can also .

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with pension and retirement planning?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.