17 - September 2019Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans.
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Payroll – how to deal with new starters From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter. For 2019/20 an employer needs to operate PAYE where the employee earns more than £118 per week (the lower earnings limit for National Insurance purposes). However, […]
14 - September 2019If you’ve received a tax calculation or simple assessment from HMRC, don’t assume that it’s correct – HMRC can and do make mistakes.
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Check your tax calculation Each year HMRC undertake a PAYE reconciliation for employed individuals who are not required to submit a tax return to check that the correct amount of tax has been paid. Where it has not, HMRC will send out either a P800 tax calculation or a PA302 simple assessment. P800 tax calculation […]
11 - September 2019Inspired by Grand Designs? You are entitled for a VAT refund if you build your own home.
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VAT refunds for DIY builders If you build your own house or convert an existing property into a home, you may be eligible to apply for a VAT refund on building materials and services. You do not need to be VAT registered to claim a refund. What qualifies? Refunds can be claimed in respect of […]
09 - September 2019Today’s blog covers the serious curtailment to letting relief for landlords coming April 2020 – read more here.
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Curtailment of letting relief Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating. From 6 April 2020, lettings relief – a valuable capital gains tax relief which is available where a property which has at some point been the owner’s only or main […]
06 - September 2019Do you have a second home? You might want to sell up before April 2020!
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Private residence relief and the final period exemption From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence. The main gains are where the property has been the only or main residence throughout the whole period of ownership as private […]