Pro-Taxman

PRO-TAXMAN

If you use the property rental toolkit, do you think it’s useful?

Using the property rental toolkit to avoid common errors in returns HMRC’s property rental toolkit highlights errors commonly found in tax returns in relation to property income. The toolkit can be used to help avoid those errors, some of which are discussed briefly below. Computation For unincorporated property businesses, the default basis is the cash …

If you use the property rental toolkit, do you think it’s useful? Read More »

Here’s how to earn tax-free money through doing something you love.

Spare time earnings may be tax-free The new trading tax allowance for individuals of £1,000 was introduced from 6 April 2017 and applies for the 2017/18 tax year onwards. In broad terms, the allowance means that individuals with trading income below the annual threshold may not need to report it to HMRC and may not …

Here’s how to earn tax-free money through doing something you love. Read More »