Can mileage claims include loan interest?
The Approved Mileage Allowance Payment (AMAP) was introduced in 2002 as a statutory simplification to allow employers to make tax-free payments up to certain limits
The Approved Mileage Allowance Payment (AMAP) was introduced in 2002 as a statutory simplification to allow employers to make tax-free payments up to certain limits
If an employer pays less than these rates, the employee can claim tax relief for the unused balance. Where an employer pays less than these
With four days’ notice, a trial to redirect Self Assessment (SA) queries from HMRC’s phone helpline to its digital services started on 12 June, running
The tax system contains a number of exemptions, some of which are more useful than others. One of the more valuable exemptions is that for
Employers looking to take on new staff may wish to consider employing two or more part-time workers rather than one full-time worker. This can save
Landlords who have benefited from rising property prices in recent years may wish to consider releasing equity now in case prices drop. This may be
If you are a VAT-registered business you must charge VAT when you make taxable supplies. You must also pay over the difference between VAT you
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
Although spouses and civil partners are taxed independently, there are some tax breaks available. One of these is the ability for spouses and civil partners
It will not always be apparent when a hobby tips over into a trade and the point at which you need to declare your income
The High Income Child Benefit Charge (HICBC) is a tax charge that claws back payments of child benefit where the recipient or the recipient’s partner
The Covid-19 pandemic forced large numbers of employees to work from home forthe first time. Having made the transition to home working, post pandemic, manyemployees
Capital gains tax (CGT) is levied on capital gains made on the disposal (including gifts) ofmost assets. However, if the disposal is of ‘business assets’
Legislation has been published in draft which will bring a new tax – the Residential Property Developer Tax (RPDT) onto the statute book. The publication
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow resources to be diverted to other activities, such as administering
Under real time information (RTI), employers are required to report pay and deductions information to HMRC ‘at or before’ the time that the payment is
All business must start at some point, and a furnished holiday lettings (FHLs) business is no exception. Unlike other rental properties, furnished holiday lettings enjoy
A SIC code stands for Standard Industrial Classification code and classifies your business activity at Companies House. SIC code for a company can be changed
If you sell a property that has not been your main residence throughout the period that you have owned it, you may need to pay
No one likes the idea of the taxman taking a chunk of their estate when they die, particularly if it will be necessary to sell
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