Date posted: 15th Nov 2023
The trivial benefits legislation came into force on 6 April 2016 and allows employers to provide trivial benefits to employees without the employee incurring tax liabilities. However, for…
Date posted: 15th Nov 2023
It is eight years since companies had to deal with two tax rates and marginal relief when calculating their corporation tax liability. That system has now been reinstated…
Date posted: 15th Nov 2023
Most business owners are aware that VAT registration is a legal requirement should total taxable turnover for the previous 12 months exceed £85,000 or turnover is expected to…
Date posted: 15th Nov 2023
There are different tax reliefs available, that depend upon the type of property letting business. This may be a serious consideration, particularly as landlords coming to the end…
Date posted: 15th Nov 2023
In setting up a trade it is inevitable that expenses will be incurred before the trade actually commences and income is received. Expenses may be incurred on acquiring…
Date posted: 15th Nov 2023
The High-Income Child Benefit Charge (HICBC) was introduced in 2013 to stop those with higher earnings, from receiving entitlement to child benefit. The charge applies where the claimant…
Date posted: 17th Oct 2023
The profitability or earning capacity of a business may depend on one person or on a small number of people. Where this is the case, the business may…
Date posted: 17th Oct 2023
Due to recent rises in interest rates, director-shareholders may look to borrow some funds from their own limited company, to help with personal finances. However, it is important…
Date posted: 17th Oct 2023
Owners of personal and family companies frequently pay themselves a small salary and extract further profits as dividends. To utilise the unused personal and dividend allowances of other…
Date posted: 17th Oct 2023
Rental income is a form of taxable income, that should be declared to HMRC. There are many instances where individuals have mis-understood this and have therefore not declared…
