Legal v illegal dividends
Changed business conditions in light of the Coronavirus pandemic have caused many companies to review their dividend policies not least because the company’s financial position
February 27, 2021
Statutory payments from April 2021
By law, there are various statutory payments that an employer must make to an employee while the employee is absent from work due to the
February 23, 2021
National Living Wage and National Minimum Wage changes from April 2021
Under the minimum wage legislation, workers must be paid at least the statutory minimum wage for their age. There are two types of minimum wage
February 22, 2021
Electric cars from April 2021
For 2020/21, it was possible to enjoy an electric company car as a tax-free benefit. While this will no longer be the case for 2021/22,
February 19, 2021
Are you trading?
Lockdown restrictions have forced many businesses to close temporarily. Selling goods or clothes on sites such as eBay and Depop offers the opportunity to raise
February 15, 2021
Selling your main residence with land – Will the SDLT return trip you up?
Most people do not expect to pay capital gains tax when they sell their only or main home, particularly if the property has been their
February 12, 2021
Renovating the holiday let during lockdown
The Covid-19 pandemic has hit the hospitality and leisure industry hard. Landlords with furnished holiday lettings have been unable to let their properties for considerable
February 9, 2021
Deadline to benefit from increased SDLT threshold approaching
In July last year, the Government announced a temporary increase in the residential stamp duty land tax (SDLT) threshold to £500,000. The higher threshold applies
February 7, 2021
Self-employment and the £2,000 dividend allowance
All taxpayers, regardless of the rate at which they pay tax, are entitled to a tax-free allowance for dividends. For 2020/21 this is set at
February 5, 2021
Unused residential finance costs
Since 2017/18, the amount of income tax relief that landlords with residential properties have been able to claim on residential property finance costs (e.g. mortgage interest) has gradually
February 4, 2021
Time to pay
As part of the Chancellor’s Coronavirus support package taxpayers were permitted to defer payment of the July 2020 income tax Payment on Account instalment until
February 2, 2021
Leaving the VAT Flat Rate Scheme
The VAT Flat rate scheme is a simplified scheme for smaller businesses. Under the flat rate scheme, VAT-registered traders pay a fixed percentage of their
January 30, 2021
Reclaiming SSP for periods of self-isolation
The Coronavirus Statutory Sick Pay Rebate Scheme allows smaller employers to reclaim some or all of the Statutory Sick Pay (SSP) paid to employees who
January 27, 2021
Make the most of the dividend allowance
The 2020/21 tax year comes to an end on 5 April 2021. The last few months of the year are a good time to undertake
January 25, 2021
What tax do I need to pay by 31 January 2021?
The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021. If you miss this deadline, you will automatically receive a
January 22, 2021
Making use of the transferable residence nil rate band
There are two nil rates bands for inheritance tax – the nil rate band of £325,000 and the Residence Nil Rate Band, set at £175,000
January 19, 2021
Best Hounslow Accountants – Why Choose Us?
Looking for the Best Hounslow Accountants? Do you want someone who can help you with all your bookkeeping and accounting needs? You are at the
January 19, 2021
Top Tips To Choose A Reliable Tax Advisor
Looking for a reliable tax advisor? Want help with your Tax Filing or Self Assessment? Do you want someone who can help you with all
January 18, 2021
Advantages of using a property LLP
A limited liability partnership (LLP) can be used for a property business and offers some advantages over unincorporated businesses and limited liability companies. A property
January 17, 2021
Beware the capital gains tax connected person rules
Although it is possible to transfer assets between spouses at a value that gives rise to neither a gain nor a loss, giving a property
January 12, 2021