28/Mar/2022Have you claimed the Employment Allowance?
The Employment Allowance is a National Insurance allowance that eligible employers can claim and set against their secondary Class 1 National Insurance liability. The allowance is set at £4,000 for […]
25/Mar/2022The ups and downs of Spring Statement 2022
The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March 2022. In this early edition of our April tax newsletter we outline the key measures […]
25/Mar/2022Director’s loan account – timing of loans and order of repayments – increase in section 455 charge
In a personal or family company the director will often borrow money from the company. This can be an easy source of finance, and also one that can be tax […]
23/Mar/2022Is it worth making additional pension contributions by 5 April
It is prudent to plan ahead for retirement and tax breaks are available to encourage savings into a registered pension scheme. Contributions into a registered pension scheme attract tax relief […]
17/Mar/2022Gifts –beware capital gains tax may be payable
The nature of a gift is that it is something that is given to some without receiving a payment in return. Consequently, as nothing is received in return it would, […]
14/Mar/2022Compulsory acquisition of land – tax consequences
The decision to sell land or property will, in most cases, be made by the taxpayer. However, in the case of a compulsory purchase the decision is taken out of […]
04/Mar/2022Can you benefit from the £1,000 property allowance?
If you have income from land and property, you may be able to take advantage of the property allowance. The allowance can be used in various ways. Tax exemption If […]
01/Mar/2022Completing a VAT invoice – what entries are required?
When a customer purchases an item or service from a business an invoice confirming the amount to pay should be raised either at the time of ordering or after delivery. […]
28/Feb/2022Tax issues on transferring shares to family – succession
Owners of successful businesses frequently use companies as a trading medium not least because of the tax benefits that can be achieved. When the time comes for the owner to […]
24/Feb/2022Employed? What the forthcoming National Insurance increases will mean for you
To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced from 6 April 2023. Payment of the levy, […]
21/Feb/2022Limited time penalty waivers for 2020/21 tax returns
To help taxpayers and advisers affected by the surge in Covid-19 cases as a result of the Omicron variant, HMRC have announced that penalty waivers will apply for a limited […]
16/Feb/2022Should you pay a dividend before 6 April 2022?
If you operate your business through a personal or family company and extract profits in the form of dividends, it is prudent to review your dividend policy to determine whether […]
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