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This issue will cover; Dividend tax Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions (NIC). This can make taking income from your own company in the form of dividends far more attractive than paying yourself a bonus. All taxpayers are currently entitled…Read More
This issue will cover; Income tax cuts next year Share schemes explained IR35: Contractors delighted by changes Companies spared tax rise Home buyers to pay less stamp duty Crack down on cloned companies Tax incentives in investment zones NIC cut in November Income tax cuts next year In last week’s Budget the Chancellor stunned his…Read More
This issue will cover; Cost of travelling to work Electronic sales suppression Working at home deductions Paying PAYE Beware of early RTI returns Loans to employees Paying your income tax bill Reporting UK property gains VAT portal to close Cost of travelling to work Travelling to the workplace may now be unaffordable for some employees…Read More
This issue will cover; Changing NIC in July Cost of living support Tax implications of homes for Ukraine Reporting employee expenses Car or van questions Trivial benefits for directors Beware of tax scams Preparing for MTD for income tax Using your personal tax account Changing NIC in July The rates for national insurance contributions (NIC)…Read More
This issue will cover; MTD for VAT is compulsory Declare your COVID-19 grants VAT on termination fees COVID-19 sick pay scheme ends Tax on PPI interest Hospitality VAT rates increase Advisory fuel rates Cryptoassets are taxable Valuation of let property Interest on late paid tax MTD or VAT is compulsory For VAT periods starting on…Read More
This issue will cover; New MTD filing penalties Delays to income tax repayments Make your gift aid donations now New late VAT penalties Benefits of electric vehicles Paying tax to right account HMRC challenges SEISS grant claims Correcting furlough grants Use your basic rate band New MTD filing penalties Filing VAT returns using making tax…Read More
This issue will cover; National minimum wage rates rise Universal credits claimants to keep more wages Capital investments encouraged Increases in income tax Incentives for research and development Business rates reliefs Capital gains reporting pressure eased How to declare your child benefit NIC rises for all Changes for self-employed tax returns National minimum wages rates…Read More
This quarters Tax Tips & News will provide information reference the following topics; Going digital in advance of MTD Change to tax year basis Check your tax calculation Money back for working from home How to get an income tax refund from losses How to carry back corporation losses Super capital allowances What to include…Read More
Welcome to May’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman. We are committed to ensuring that none of our clients pay a penny more in tax than is necessary and that they receive useful tax and business advice and…Read More