19/Jul/2023Do you need to complete a tax return?
Even if you pay all your tax through PAYE, you may still need to complete a Self-Assessment tax return if you are a high earner. For 2022/23 and earlier tax […]
17/Jul/2023Mobile phones – a worthwhile benefit
The tax system contains a number of exemptions, some of which are more useful than others. One of the more valuable exemptions is that for mobile telephones. As long as […]
10/Jul/2023NIC advantages of part-time workers
Employers looking to take on new staff may wish to consider employing two or more part-time workers rather than one full-time worker. This can save them National Insurance. Employers are […]
03/Jul/2023Tax and tips
The Employment (Allocation of Tips) Act 2023 sets out a new legal framework for the fair allocation of tips. A new Code of Practice is to be introduced and employers […]
01/Jul/2023Enjoy £7,500 of tax-free income under the rent-a-room scheme
If you have a spare room in your home, you may consider letting it out to raise some much-needed cash to help meet rising living costs. If you do decide […]
30/Jun/2023Business use of home – Beware the lower CGT annual exempt amount
The main residence exemption applies for capital gains tax purposes to the extent that a property is used as the taxpayer’s only or main residence. Where a property is used […]
30/Jun/2023Tax relief for unpaid rent
As the cost-of-living crisis bites, landlords may find that tenants struggle to pay their rent. Where this is the case, the relief that is available and the way that it […]
29/Jun/2023Preserving the personal allowance
The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal allowance until […]
27/Jun/2023Beware the new VAT late submission penalties
A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late submission penalties and late payment penalties. Here we look at the penalty regime […]
22/Jun/2023Have you declared your dividends correctly?
Dividends are a popular and tax-efficient way to extract profits from a personal or family company once a small salary has been paid. However, the rules surrounding dividends are strict […]
13/Jun/2023Utilise the deduction for paid and reimbursed expenses
Employees often need to incur expenses when undertaking their jobs. The nature of the expense may vary depending on the job, but typical expenses include travel and subsistence expenses and […]
02/Jun/2023Rebuild your pension pot with rental income
A self-invested personal pension (SIPP) can be an attractive option for saving for retirement and is one that is popular with company directors. Under a SIPP, you can choose and […]
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