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Tag: Make use of simplified expenses

Make use of simplified expenses 31/May/2023
Make use of simplified expenses

If you run your property business from home, you may wish to use simplified expenses to claim relief for associated household costs. You can also use simplified expenses to disallow […]

Releasing equity from a buy-to-let: 26/May/2023
Releasing equity from a buy-to-let

Landlords who have benefited from rising property prices in recent years may wish to consider releasing equity now in case prices drop. This may be to free up a deposit […]

Beware of gift aid clawback 23/May/2023
Beware of gift aid clawback

Changing personal circumstances may mean that individuals who were previously taxpayers find that they are now non-taxpayers. If they are in the habit of making charitable donations under gift aid, […]

Full expensing for companies 16/May/2023
Full expensing for companies

The super-deduction, which allowed companies to claim an immediate deduction of 130% of their qualifying expenditure, came to an end on 31 March 2023. It was replaced with full expensing. […]

Capital gains tax on separation and divorce 10/May/2023
Capital gains tax on separation and divorce

Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a gain nor a loss. Prior […]

Mileage allowances – What can you pay tax-free? 08/May/2023
Mileage allowances – What can you pay tax-free?

Employees often need to undertake business trips and it is common practice to reimburse the employee’s fuel costs by means of a mileage allowance. The tax rules allow mileage payments […]

Pension changes 03/May/2023
Pension changes

In his March Budget, the Chancellor announced a number of changes to the pension tax rules, including an increase in the annual allowance and the abolition of the lifetime allowance. […]

Furnished holiday lettings and business rates 27/Apr/2023
Furnished holiday lettings and business rates

Furnished holiday lettings are generally liable to business rates rather than council tax. This can be very beneficial, particularly where the landlord only has one business property and is eligible […]

Jointly-owned property – Joint tenants v tenants in common 26/Apr/2023
Jointly-owned property – Joint tenants v tenants in common

Under English law, there are two ways in which property can be owned jointly – as joint tenants or as tenants in common. The way in which a joint property […]

Hybrid workers and relief for travel expenses 18/Apr/2023
Hybrid workers and relief for travel expenses

The pandemic changed the way in which many people worked, forcing them to work from home if they could. Post-pandemic, many employees have continued to work from home some or […]

Claiming relief for employment expenses 15/Apr/2023
Claiming relief for employment expenses

If you incur expenses in doing your job, you may be able to claim tax relief. While the rules governing the availability of relief are strict, the process for claiming […]

Trivial benefits – Make use of the exemption 13/Apr/2023
Trivial benefits – Make use of the exemption

Trivial benefits have their own tax exemption, which if used wisely can be used to treat employees. The exemption can also be used by personal and family companies as part […]

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