Inflationary gains and the CGT trap
The current capital gains tax rules do not provide any relief for inflationary gains. This can mean that when an investment property or second home
The current capital gains tax rules do not provide any relief for inflationary gains. This can mean that when an investment property or second home
Rising interest rates have forced many landlords to sell up. When selling an investment property, capital gains tax is payable at the residential rates to
Most private companies start as sole owner-managers; roll on a few years and some will have grown such that family members may also work for
As the cost-of-living crisis continues to bite, the idea of earning tax-free income is appealing. If you have a spare room, you can make this
Whether a claim for the cost of work clothes is tax deductible is covered by the general rule for deduction of any expenses incurred by
Expenses incurred by an employee on behalf of a company can only be reimbursed under the ‘wholly, exclusively and necessarily’ rules for work undertaken ‘in
Tax codes are fundamental to the operation of PAYE. If your tax code is correct, you should pay the right amount of tax on your
It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at
Individuals making capital disposals do not pay capital gains tax if their net gains for the tax year (chargeable gains less allowable losses for the
Paying National Insurance contributions allows individuals to earn qualifying years, which in turn provides them with entitlement to the state pension and certain contributory benefits.
Earlier in the year, it was erroneously reported in the press that new tax rules were coming into force which would mean that anyone selling
We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in
Recruitment agencies often use umbrella companies to pay temporary workers. HMRC confirms that there is no statutory definition of an umbrella company and currently describes
People set up in business for a variety of reasons. For some it is a dream that becomes a reality some years later. In working
Work may be undertaken on a property to repair it or to improve it, and it will not always be clear where the dividing line
A would-be property investor will need to be able to fund the purchase of their investment property. They may choose to do this personally or
Not all property is equal when it comes to stamp duty land tax (SDLT). Higher rates apply to residential properties than to non-residential properties, with
Employers must pay their workers at least the statutory minimum wage for their age. Depending on the age of the worker, they may be entitled
Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC after the end
For tax purposes, where an employee uses their own car for work, mileage allowances can be paid tax-free up to the approved amount, which is
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