Finance & Accounting
When is a loan not a loan?
When a loan is taken out with a bank the repayment terms are usually confirmed in a formal loan arrangement. However, if you are a
December 22, 2022
Finance & Accounting
Can you benefit from tax-free childcare?
In a climate of rising interest rates and rising inflation, every penny is likely to count. For working parents, help with their childcare costs is
December 21, 2022
Finance & Accounting
The advantages of a flexible profit-sharing ratio
In a partnership, profits and losses are shared between the partners in accordance with the profit sharing ratio. This may be fixed, for example, three
December 20, 2022
Finance & Accounting
File your tax return by 30 December to pay tax through PAYE
If you need to file a self-assessment tax return for 2021/22, you must do this online by 31 January 2023 if you want to avoid
December 19, 2022
Finance & Accounting
Capital expenditure planning in light of permanent increase to AIA limit
The Annual Investment Allowance will now remain at £1 million permanently rather than reverting to £200,000 from 1 April 2023. This change of plan may
December 16, 2022
Finance & Accounting
Extended carry back of losses – don’t miss the claim deadlines
To help businesses that suffered losses during the Covid-19 pandemic, temporary measures were introduced to increase the period for which certain losses could be carried
December 15, 2022
Finance & Accounting
Completing the property pages of the self-assessment tax return
If you receive rental income from properties that you let out, you will need to tell HMRC about it on the property pages of your
December 14, 2022
Finance & Accounting
Main residence exemption – When does it apply?
Generally, when a person sells a home that they have lived in as their main residence, they will not have to pay tax on any
December 9, 2022
Finance & Accounting
Rising mortgage costs – What tax relief is available?
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax
December 2, 2022
Finance & Accounting
National Insurance and the self-employed
During her leadership campaign, Prime Minister, Liz Truss, promised to reverse the National Insurance increases that took effect from 6 April 2022 pending the increase
November 23, 2022
Finance & Accounting
Mileage allowance payments – the maximum tax-free amount
To save work, employers can pay employees a mileage allowance if they use their own car for business journeys. The Government have recently cleared up
November 17, 2022
Finance & Accounting
What expenses can you deduct?
To ensure that a business does not pay more income tax than it needs to, it is important that a deduction is claimed for all
November 16, 2022
Finance & Accounting
Dividend Planning
The Chancellor’s recent mini-Budget and subsequent U – turns threw a number of spanners into the works as far as profit extraction strategies are concerned.
November 15, 2022
Finance & Accounting
When does a property rental business start?
A property rental business will have a start date and an end date, and it is important to know what those dates are. When setting
November 11, 2022
Finance & Accounting
Giving away the buy-to-let to save inheritance tax
Where a person has a property portfolio, they may consider giving away one or more of their investment properties during their lifetime to reduce the
November 9, 2022
Finance & Accounting
Recent SDLT changes
In his recent mini-Budget, the then Chancellor announced a number of stamp duty land tax (SDLT) changes. What are the changes and how will they
November 7, 2022
Finance & Accounting
Reclaiming VAT on a car – notoriously difficult to claim.
The VAT tax rules are clear – input tax cannot be claimed on the purchase of a new or used car that is made available
November 4, 2022
Finance & Accounting
NIC implications of being both self-employed and employed
With the cost-of-living crisis upon us more people are considering self-employment as well as employment to bring in extra money. This can lead to overpayments
November 3, 2022
Finance & Accounting
Dividend ‘traps’ to avoid
Where the plan is to pay a dividend the director/shareholder must ensure that set procedures are in place. This article describes some traps for the
November 2, 2022
Finance & Accounting
Cycle to work tax-free
As the cost-of-living crisis deepens, many employees are looking to save money. One option is to cut the cost of the commute by cycling to
October 28, 2022