With different rates and limits of National Insurance contributions (NIC) for the 2022/23 year, anyone who has more than one paid job or who is
Many landlords purchase their investment properties with the aid of a mortgage. In the current climate of rising interest rates, landlords may be wondering whether
In the ill-fated mini Budget, the then Chancellor increased the residential stamp duty land tax threshold from £125,000 to £250,000 with effect from 23 September
Limited liability partnerships (LLPs) are a relatively new type of business structure that came into being following the financial crisis of the late 1980s, and
If used correctly, dividend waivers can be an effective planning tool, particularly where one shareholder is a higher-rate or additional rate taxpayer and others are
Business property relief (BPR) is one of the more valuable tax reliefs available to business owners because it reduces the value of an estate for
As well as a mechanism for collecting revenue, the tax system is also used to encourage certain behaviours and discourage others. Once example where this
Entitlement to the state pension and certain contributory benefits depends on an individual having paid, or been credited with, sufficient National Insurance contributions. To qualify
The trading allowance enables an individual to earn up to £1,000 from self-employment, the provision of casual services (such as gardening or babysitting) or from
The VAT default surcharge is being replaced with a new VAT penalty and interest regime. The new rules apply to VAT accounting periods beginning on
The dividend allowance is available in addition to the personal allowance. It allows all taxpayers regardless of the rate at which they pay tax to
It can be a risky business being a director of a UK company these days. It is a common myth that the limited liability status
If economic advisers are to be believed then we are heading into a recession lasting at least a year and every recession brings with it
When a loan is taken out with a bank the repayment terms are usually confirmed in a formal loan arrangement. However, if you are a
In a climate of rising interest rates and rising inflation, every penny is likely to count. For working parents, help with their childcare costs is
In a partnership, profits and losses are shared between the partners in accordance with the profit sharing ratio. This may be fixed, for example, three
If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a
The Annual Investment Allowance will now remain at £1 million permanently rather than reverting to £200,000 from 1 April 2023. This change of plan may
To help businesses that suffered losses during the Covid-19 pandemic, temporary measures were introduced to increase the period for which certain losses could be carried
If you receive rental income from properties that you let out, you will need to tell HMRC about it on the property pages of your
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