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
May 21, 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
May 19, 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
May 17, 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
May 15, 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
May 12, 2023
Rebuild 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
May 9, 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
May 6, 2023
Releasing equity from a buy-to-let: Watchpoints
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
May 3, 2023
Finance & Accounting
When is a VAT invoice not a VAT invoice?
Need professional accounting service or accounting advice? Contact us to book a 15-min Free Consultation with us today. To find out more please follow us on Facebook,
April 30, 2023
Finance & Accounting
Discounts for employees – A taxable benefit in kind?
Pre-pandemic, giving discounts to employees was invariably only offered by the larger companies. However, because employee benefit schemes save the employer money, many SMEs are
April 30, 2023
Finance & Accounting
Business entertaining – The tax position
Many businesses view entertaining clients and customers to be an important part of their marketing budgets, whether as a networking opportunity, a thank you for
April 29, 2023
Finance & Accounting
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
April 27, 2023
Finance & Accounting
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
April 25, 2023
Finance & Accounting
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
April 24, 2023
Finance & Accounting>Director’s Loan Accounts>Personal Expenses
Family and personal companies – Optimal salary for 2023/24
A popular profit extraction strategy is to pay a small salary and to extract further profits as dividends. Why pay a salary? There are a
April 19, 2023
Finance & Accounting
Taxation of dividends in 2023/24
If you have a personal or family company, taking dividends is a popular and tax-efficient way to extract profits. However, while they remain tax efficient,
April 17, 2023
Finance & Accounting
SDLT, LBTT and LTT hit of buying an investment property
Where a property is purchased in England or Northern Ireland and the consideration exceeds the relevant threshold, stamp duty land tax will be payable. However,
April 13, 2023
Finance & Accounting
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
April 11, 2023
Finance & Accounting
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
April 6, 2023
Finance & Accounting
NIC landscape for 2023/24
As far as National Insurance was concerned, the 2022/23 tax year was a tricky one featuring in-year changes to the primary threshold and in-year changes
March 27, 2023