Paying family members
Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including
Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including
The off-payroll working rules, known as IR35, were introduced in 2000 to ensure that someone working like an employee, but through a limited company, pays
Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should
Waiver of dividends and remuneration Many companies are experiencing financial difficulties brought about by the coronavirus pandemic and there will be many instances where directors
Company car mileage rates update The company car benefit tax charge does not cover fuel provided for a company vehicle. This means that where an
Stamp duty on share transactions Stamp duty is the oldest of our surviving taxes – dating as far back as 1694 – although the scope
Dealing with directors’ loans For accounting purposes, cash transactions between a director and a personal or family company are recorded through the director’s account. At
Deferring self-assessment POA – Is it is good idea? To help those suffering cashflow difficulties as a result of the Covid-19 pandemic, the Government have
Reclaim SSP for Covid-19 absences Small employers can now reclaim statutory sick pay (SSP) paid to employees who were absent from work due to the
Reporting expenses and benefits for 2019/20 Employers who provided taxable expenses and benefits to employees in 2019/20 need to tell HMRC about them by 6
Furnished holiday lettings – What can you do if you fail to meet the occupancy tests due to the Covid-19 pandemic? Lets that qualify as
Pro-taxman in Hounslow strongly advises that you initially need to determine your residency status for the tax year in question. This is decided using the
Potential benefits of putting a property into joint names prior to sale Where a property qualifies in full for private residence relief, it is perhaps
You made it and filed your self-assessment return for 2018/19 by the 31 January 2020. However, having felt pleased with yourself, you realise to your
Trivial benefit traps – Contractual obligations The trivial benefits exemption allows employers to provide employees with low cost benefits free of tax and National Insurance
Pension savings can be tax efficient as contributions to registered pension schemes, attracting tax relief up to certain limits. Limit on tax relief Tax relief
Legal and professional fees – Capital or revenue? At some point, a landlord is likely to incur legal and professional fees in connection with the
Properties not let at a commercial rent There may be a number of reasons why a property is occupied rent-free or let out at rent
Allowable finance costs Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the
Many Airbnb lets are used as holiday accommodation. From a tax perspective, furnished holiday lettings enjoy some tax advantages over other lets. So, is it
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