Tax Tips and News
Pension payments – What tax relief is available?
Pension payments – What tax relief is available? To encourage pension savings, tax relief is available on contributions made to registered pension schemes. However, there are limits on the...
Taxation of company vans in 2023/24
Taxation of company vans in 2023/24 A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is also provided for private...
Making Tax Digital
From 6 April 2024, MTD for income tax self-assessment (MTD for ITSA) will require unincorporated businesses, self-employed people and landlords (with turnover over £10,000) to: keep income and...
Help if you are struggling to meet your tax bills
Inflation is at a ten-year high and the ensuing cost of living crisis means that many people may be struggling to pay the tax that they owe. If this is you, what can you do about it? While it may be...
How to claim tax relief for employment expenses
If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for those expenses. Relief is only available for expenses that you must incur,...
Avoiding an investigation: How does risk assessment work – what do HMRC look for?
Last year apart, the number of tax enquiries is on the increase; the reason is not because more taxpayers are seeking to defraud the tax system but because advances in digital technology and data...
Stamp duty land tax refunds
The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more and if all of the following conditions apply: it will not be the only...
Distributions on cessation of a company
When a company closes down, it may have accumulated monies or assets that need to be distributed to shareholders. If the asset is in the form of cash then any distributions would typically be as...
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