19/Jul/2022What qualifies for private residence relief?
Private residence relief is a well-known relief but one which is often misunderstood. It applies to remove the liability to capital gains tax that would otherwise apply where a homeowner […]
15/Jul/2022Pros and cons of the VAT flat rate scheme
The flat rate scheme offers VAT registered traders who meet the eligibility conditions a simpler way to work out the VAT that they need to pay over to HMRC. However, […]
12/Jul/2022Tax-free savings income
There are various ways to enjoy savings income tax-free. However, not all routes are open to all taxpayers – the options depend on the nature of the savings and the […]
11/Jul/2022Is paying mileage allowances at the approved rate still a good idea?
Where an employee uses their own vehicle for business journeys, their employer can cover the associated costs by paying a mileage allowance. As long as the allowance does not exceed […]
07/Jul/2022National Insurance changes for the self-employed
If their profits are high enough, the self-employed pay two classes of National Insurance contribution – Class 2 and Class 4. Class 2 contributions are flat rate contributions of £3.15 […]
05/Jul/2022Loans to directors – beware of the higher section 455 charge
Directors and shareholders in close companies are often able to influence the payments that are made to them. Broadly, a close company is one that is controlled by five or […]
29/Jun/2022Tax relief for the expenses of running a property business
In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for the expenses […]
28/Jun/2022Tax Breaks for EIS Company Investors
Investors who are not connected with the company may claim income tax relief of 30% of the amount that they invest in qualifying EIS companies up to £1 million each […]
21/Jun/2022Tax-efficient finance for your company
HMRC have recently updated their guidance for companies looking to attract investors to buy shares in their company. If structured correctly, and if the company qualifies under the Enterprise Investment […]
20/Jun/2022Should I change my accounting date?
In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more […]
15/Jun/2022Plan capital expenditure to benefit from time-limited reliefs
Unincorporated businesses and companies planning capital expenditure projects need to be aware of some time-limited reliefs. Timing capital expenditure to benefit from these reliefs can be financially beneficial. Annual investment […]
13/Jun/2022Corporation tax – are you ‘associated’?
The corporation tax rules are changing from 1 April 2023, and the amount that a company will pay will depend on the level of its profits, and also whether or […]
Proud to be featured in
150
