BARTH CONSULTING LIMITED

Have you paid enough tax on property profits? HMRC is writing to individuals who may not have paid enough tax on profits from real estate What should you do if you receive a letter? These nudge letters from HMRC are sent to individuals who may not have declared income or capital gains They are targeting profits from letting activities and capital gains from the sale of properties If you receive such a letter check that you have correctly reported property income and/or capital gains and paid any tax due to HMRC If you haven’t, individuals can either call HMRC or use an online disclosure facility to bring your tax affairs up to date Do this as soon as possible i.e. within 30 days of the date of the letter If you have correctly reported and paid your taxes you still need to respond to HMRC to confirm this within 30 days of the date of the letter If you don’t HMRC will open a compliance check which could lead to further issues and penalties if tax has been underpaid As with all things property, tax and accounting seek professional advice #property #rentalincome #hmrccompliance #tax #accounting #nudgeletters

BBC Radio 1’s Big Weekend brought £7m boost to #Luton economy 🎶🎶 The massive music festival that took over Stockwood Park in May didn’t just bring world-class artists to Luton it pumped around £7 million into local businesses, according to the new report 🎵🎸 The event, which drew thousands of music fans from across Luton and beyond, has been hailed as a major success for the town 🧑🏿🤝🧑🧑🤝🧑🧑🏼🤝🧑🏽 The independent study compiled by Dodds & Law Research Associates LTD. commissioned by Luton Council shows that local hotels and businesses benefitted, with overnight stays alone bringing in about £1.5 million Money aside, the festival gave Luton’s image a serious boost too 😁😍 A whopping 87% of visitors left with a positive impression of the town, with many saying their views of Luton had completely changed for the better after their visit 🥰 The festival brought in millions for the town after an initial £500,000 investment from Luton Council (that’s £350,000 from the government and £150,000 from Luton Rising). And before anyone asks – no, this didn’t come out of council tax money! The huge success of this music festival was largely down to the volunteers, aptly named Festival Makers 👋🏽🙅🏽♂️🙋🏽♂️ - remember the big blue hands? An interesting stat that came out of the evaluation report shows that the largest number of volunteers or festival makers were full time employed people One of those busy volunteers was our very own Louise Barth AND she made it into the evaluation report - Page 69 👇🏽 Louise had to juggle three days of volunteering with preparing capital allowances tax relief claims for property investors, tenants and landlords in Luton and further afield Read the full report here 👉🏽👉🏽👉🏽 https://lnkd.in/eTwgjsgX Laura Redmond (Edwards) thanks for posting Step Forward Luton Business and Investment Luton Rising

Update on the abolition of furnished holiday lettings regime (FHL) Owning a FHL has just got a lot more complicated from a tax and accounting perspective so it's advisable to seek professional advice in order to optimise your position The new rules have been confirmed - here is a round up The FHL regime will be abolished from April 2025 After this date FHL property will form part of a UK or overseas property business for tax purposes This has the following consequences: 1. FHL income will no longer qualify as net relevant earnings for pension purposes 2. Relief for loan interest will be restricted to the basic rate tax deduction 3. Capital allowances will no longer be available for new expenditure Instead, the replacement of domestic items relief will apply Important to note: Where an existing FHL business has a capital allowances pool brought forward, it can continue to use the allowances on the pool balance until used up 4. Relief for losses will follow the rules for UK or overseas property businesses, including any FHL losses brought forward from before 5 April 2025; and 5. the following CGT reliefs will be withdrawn (although where criteria for relief includes conditions to be met in a future year this will not affect its availability): -  business asset disposal relief unless the qualifying business ceased prior to FHL regime abolition, when relief may continue to apply to a disposal that occurs within the normal 3-year period following cessation; >> gift relief; >> rollover relief; >> relief for loans to traders; and >> substantial shareholdings relief 🤔😕🤯 #furnishedholidaylets #fhl #secondhomes #investment #taxbreaks #capitalallowances

https://lnkd.in/e6SvW-ZF Some good news surrounding Capital Allowances and R&D tax reliefs Rachel Reeves, The Chancellor of the Exchequer, confirmed yesterday that the existing Capital Allowances scheme which includes the Annual Investment Allowances (AIA) of £1m and full expensing are here to stay, as is the current rates for R&D tax relief. Speaking at the International Investment Summit she also confirmed that corporation tax will stay at 25% This is good news for businesses needing to invest into their premises, new machinery and equipment and research and development The current government are making all the right noises with regards to investment and growth in the UK, lets just hope they fully deliver this on 30th October and beyond To a greater than last week it's business as usual #capitalallowances #taxrelief #research #development #innovation #equipment #machinery #construction #property #investment #budget2024 #sme #business #tax #ukinvestment

Charity golf day in support of Luton Town FC Community Trust! ⛳ Barth Consulting are set to host a charity golf day at South Beds Golf Club on Friday 14th June. All proceeds raised from the day will be donated to us here at Luton Town FC Community Trust and be used to support the work we do. Registration is from 11.30am with bacon rolls available upon arrival. The golf itself begins at 1pm with a shotgun start. The day will be capped off with a meal following the golf, as well as a raffle and charity auction with a host of great items on offer. Entry is open to all, so round up your friends, family and colleagues, or register as an individual and we’ll find a group for you. Entry Fee: £90 for an Individual or £350 for a team of four. There are also sponsorship packages available. For further information please contact louise.barth@barthconsulting.co.uk or if you are ready to book, please complete the online booking form available through https://lnkd.in/eAUs3y7J BARTH CONSULTING LIMITED

⛳⛳⛳ Join us for our inaugural charity golf day on 14 June ⛳⛳⛳⛳⛳ Bring some guests and enter a team We are supporting Luton Town FC Community Trust The Trust works closely with local youths in Bedfordshire getting them playing some sport, keeping them out of trouble and helping them on their way to be better adults.  Sponsor a hole for £100 and use it for some fun photos Donate a prize for the auction or raffle More details to follow...   Register your team via the link below.  Feel free to share amongst your networks too – the more the merrier 😁 👇   Register your interest here https://lnkd.in/dmwFZe3a   Need to know Information: SOUTH BEDS GOLF CLUB £90 / individual or £350 team of 4 Registration at 11.30am Bacon rolls and coffee Shot gun start at 1.00pm Followed by 2 course hot dinner, with prizes, raffle, and auction #golfday #luton #COYH #charity

Save the date Friday 14 June 2024 You've guessed it! The inaugural Barth Consulting Charity Golf Day If you want to stay up-to-date with what we are up to and for updates on this event, follow our Page. More announcements to follow #charitygolfday #supportinglocalbusinesses #Luton #Bedfordshire #networking South Beds Golf Club

We're part of Step Forward #luton 🧡 Step Forward Luton is a community-led brand dedicated to challenging persistent misperceptions about the town It empowers this community with the tools we need to advocate for Luton, increase civic pride and attract investment. Step Forward Luton’s mission is to champion and showcase the unique offerings that make our town special. From our fascinating history to our vibrant cultural scene, Luton has a story to tell And now is the time to tell it. With Premier League football and airport growth fueling a remarkable £5bn economic boost, and town center regeneration already underway, Luton is truly in the spotlight Now is the perfect time to showcase why Luton is an exceptional place to live, work, study and invest There are lots of exciting projects in the pipeline, some have started already and it's not all about the football............#COYH and famous guests #harrystyles it's a lot, lot more than that 😉 Louise Barth has accepted the role of Business Ambassador for Step Forward Luton Follow us here to get updates and insights on the developments in the town, what's going on and how you can get involved 🌟 #stepforward #Investment #construction #business #ambassadorprogram