Salary v dividend for 2019/20
A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is
A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is
Premium Bonds (PBs) are an investment product issued and maintained by National Savings and Investments (NS&I), which in turn, is backed by HM Treasury. With
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income,
Not all taxpayers are able to benefit from the personal allowance – once income exceeds £100,000 the allowance is gradually reduced until it is eliminated
The marriage allowance can be beneficial to married couples and civil partners on lower incomes. Claiming the marriage allowance is worth up to £238 in
Providing a business is being undertaken on a commercial basis with a view to making a profit, it is generally possible to claim relief for
Where a property is located in a holiday region, a consideration will be whether to let it as a holiday let or on a longer-term
Rent-a-room relief was introduced to encourage people to let spare rooms in their own home in order to increase the supply of low-cost rental accommodation.
Often, when a property is purchased there is work to be done before it can be let out or sold. Where this work is financed
Parents affected by the High-Income Child Benefit charge (HICBC) can be forgiven for thinking that there is no point is registering for child benefit if
The cash basis is a simpler way of working out taxable profits compared to the traditional accruals method. The cash basis takes account only of
The deadline for filing the 2017/18 self-assessment tax return of 31 January 2019 has now passed. You filed your return on time and paid the
Employees – claim a tax deduction for expenses Employees often incur expenses in doing their job – this may be the cost of a train
Employees who joined their employer’s childcare voucher or employer-supported childcare scheme before 4 October 2018 can remain in that scheme and benefit from the associated
Copyright © 2023 Pro-Taxman. All rights Reserved.