18 - April 2020
Reporting employment income earned abroad on a self assessment tax return
Posted by : Pro-Taxman
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Pro-taxman in Hounslow strongly advises that you initially need to determine your residency status for the tax year in question. This is decided using the ‘Statutory Residence test’. Assuming you were working abroad for 4 months, you would therefore have been resident in the UK for more than 183 days and as a result considered […]
03 - April 2020
How to Cost-Effectively Manage Your Accounting Division?
Posted by : Pro-Taxman
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(Cost Effective cheap accounting in Hounslow) Competition across the globe has been intensifying at an increasing pace over time. In this regard, businesses in the modern-day and age are more vigilant about their cost centers, to ensure that they are not overspending, and can stay within the desired budget. Speaking of Hounslow, it is a […]
31 - March 2020
Not putting a property in joint names prior to selling is an easily avoided mistake – read our blog to see if this would benefit you.
Posted by : Pro-Taxman
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Potential benefits of putting a property into joint names prior to sale Where a property qualifies in full for private residence relief, it is perhaps academic, from a tax perspective at least, whether a couple own it jointly or it is the one name only. In either case, the relief shelters any gain that arises […]
07 - March 2020
What to do if you need to change your tax return
Posted by : Pro-Taxman
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You made it and filed your self-assessment return for 2018/19 by the 31 January 2020. However, having felt pleased with yourself, you realise to your horror that you have made a mistake and need to correct your return. Can you do this and if so, how and by when? Yes, you can If you have […]
04 - March 2020
“Just because a gift is provided each year, or is provided to all staff members, does not mean that the employee has a contractual entitlement to it.”
Posted by : Pro-Taxman
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Trivial benefit traps – Contractual obligations The trivial benefits exemption allows employers to provide employees with low cost benefits free of tax and National Insurance and any reporting obligations. For the purposes of the exemption, a benefit is trivial if the cost per head is not more than £50. Where trivial benefits are provided to […]