Finance & Accounting
Main residence exemption – When does it apply?
Generally, when a person sells a home that they have lived in as their main residence, they will not have to pay tax on any
December 9, 2022
Finance & Accounting
Rising mortgage costs – What tax relief is available?
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax
December 2, 2022
Finance & Accounting
National Insurance and the self-employed
During her leadership campaign, Prime Minister, Liz Truss, promised to reverse the National Insurance increases that took effect from 6 April 2022 pending the increase
November 23, 2022
Finance and Accounting
VAT bad debt relief
If you are a VAT-registered business you must charge VAT when you make taxable supplies. You must also pay over the difference between VAT you
November 21, 2022
Finance & Accounting
Mileage allowance payments – the maximum tax-free amount
To save work, employers can pay employees a mileage allowance if they use their own car for business journeys. The Government have recently cleared up
November 17, 2022
Finance & Accounting
What expenses can you deduct?
To ensure that a business does not pay more income tax than it needs to, it is important that a deduction is claimed for all
November 16, 2022
Finance & Accounting
Dividend Planning
The Chancellor’s recent mini-Budget and subsequent U – turns threw a number of spanners into the works as far as profit extraction strategies are concerned.
November 15, 2022
Finance & Accounting
When does a property rental business start?
A property rental business will have a start date and an end date, and it is important to know what those dates are. When setting
November 11, 2022
Finance & Accounting
Giving away the buy-to-let to save inheritance tax
Where a person has a property portfolio, they may consider giving away one or more of their investment properties during their lifetime to reduce the
November 9, 2022
Finance & Accounting
Recent SDLT changes
In his recent mini-Budget, the then Chancellor announced a number of stamp duty land tax (SDLT) changes. What are the changes and how will they
November 7, 2022
Finance & Accounting
Reclaiming VAT on a car – notoriously difficult to claim.
The VAT tax rules are clear – input tax cannot be claimed on the purchase of a new or used car that is made available
November 4, 2022
Finance & Accounting
NIC implications of being both self-employed and employed
With the cost-of-living crisis upon us more people are considering self-employment as well as employment to bring in extra money. This can lead to overpayments
November 3, 2022
Finance & Accounting
Dividend ‘traps’ to avoid
Where the plan is to pay a dividend the director/shareholder must ensure that set procedures are in place. This article describes some traps for the
November 2, 2022
Finance & Accounting
Cycle to work tax-free
As the cost-of-living crisis deepens, many employees are looking to save money. One option is to cut the cost of the commute by cycling to
October 28, 2022
Finance & Accounting
Five ways to save inheritance tax
Inheritance tax is often described as a voluntary tax. While most of us do not know in advance when we are going to die, there
October 27, 2022
Finance & Accounting
Tax-free health benefits
If you are an employer, it is beneficial for both you and your employees if your workforce is healthy. Consequently, you may want to offer
October 26, 2022
Finance & Accounting
Is it worth registering for VAT voluntarily?
You must register for VAT if your VAT taxable turnover for the last 12 months exceeded the VAT registration threshold of £85,000, or if you
October 21, 2022
Finance & Accounting
Five tax-efficient ways to extract profits
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
October 19, 2022
Finance & Accounting
Are you able to claim small business rate relief for your furnished holiday let?
Holiday homes and holiday lets are treated differently – holiday lets are liable for business rates while holiday home owners must pay council tax. This
October 17, 2022
Finance & Accounting
CGT on residential property gains – are you aware of the 60-day limit?
Statistics published by HMRC in August 2022 revealed that in the 2021/22 tax year, 129,000 taxpayers reported residential property disposal using HMRC’s online service, filing
October 14, 2022