Tax News

Are electric cars still a tax-efficient benefit?

Are electric cars still a tax-efficient benefit?

Date posted: 9th Feb 2023

As well as a mechanism for collecting revenue, the tax system is also used to encourage certain behaviours and discourage others. One example  where this is evident is…

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Can you benefit from the trading allowance?

Can you benefit from the trading allowance?

Date posted: 9th Feb 2023

The trading allowance enables an individual to earn up to £1,000 from self-employment, the provision of casual services (such as gardening or babysitting) or from hiring out personal…

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Using dividend waivers in tax planning

Using dividend waivers in tax planning

Date posted: 9th Feb 2023

If used correctly, dividend waivers can be an effective planning tool, particularly where one shareholder is a higher-rate or additional rate taxpayer and others are not. However, several…

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LLP v a company – Which is best?

LLP v a company – Which is best?

Date posted: 8th Feb 2023

Limited liability partnerships (LLPs) are a relatively new type of business structure that came into being following the financial crisis of the late 1980s, and early 1990s. In…

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Buy to let mortgage interest and tax relief

Buy to let mortgage interest and tax relief

Date posted: 8th Feb 2023

Many residential landlords purchase their investment properties with the aid of a mortgage. In the current climate of rising interest rates, landlords may be wondering whether any tax…

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Capital gains tax exemption – use it before it reduces?

Capital gains tax exemption – use it before it reduces?

Date posted: 8th Feb 2023

A gain on the sale of an investment property, such as a buy-to-let or second home, will be liable to capital gains tax to the extent that it…

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The dividend allowance is reducing – plan now?

The dividend allowance is reducing – plan now?

Date posted: 8th Feb 2023

The dividend allowance is available in addition to the personal allowance. It allows all taxpayers regardless of the rate at which they pay tax to receive dividends up…

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Late filing tax return penalties – what next?

Late filing tax return penalties – what next?

Date posted: 8th Feb 2023

The 31 January 2023 deadline has passed – if you did not manage to submit your 2021/22 Tax Return by the deadline, then HMRC will issue an automatic…

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Tax planning – is now the time to consider this?

Tax planning – is now the time to consider this?

Date posted: 8th Feb 2023

You know that feeling – the one after a large chunk of your personal monies are sent to HMRC…. Is it time to make a late new year’s…

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HMRC enquiries set to rise?

HMRC enquiries set to rise?

Date posted: 9th Jan 2023

At the Autumn Statement, HMRC were given a further £79m to continue to tackle tax avoidance and evasion. HMRC believe that this will raise a further £725m in…

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