Tax Tips and News

What counts as a garden for private residence relief?

Apr 5, 2022 | Tax Planning

Private residence relief prevents a tax charge from arising if there is a capital gain when a person sells a property that has been their only or main home throughout the period that they have owned...

MTD for VAT for all

Apr 4, 2022 | HMRC

Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with MTD for VAT. Prior to 1...

Struggling to pay tax – What should you do?

Jan 19, 2022 | HMRC, Tax Planning

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card bills. However unpalatable the...

Payments on account – Who needs to pay and how are they calculated?

Dec 15, 2021 | HMRC, Tax Planning

The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a late filing penalty is to be avoided. The exception to this is where a notice to file a return for...

Do I need to top up my pension?

Nov 19, 2021 | News

A full single tier state pension is payable to people who have 35 qualifying years. Individuals who have less than 35 qualifying years, but at least 10 qualifying years are entitled to a reduced...

A Simple Guide To The Budget 2020

Mar 14, 2020 | Tax Planning

Dividend allowance The tax-free dividend allowance is unchanged at £2,000. Corporation tax The corporation tax rate will remain at 19%. Annual investment allowance Companies will be able to claim...

Don’t forget to make tax efficient investments ahead of the tax year end

Mar 12, 2020 | Tax Planning

With the end of the tax year looming there is still time to save tax for 2019/20. Make full use of your ISA allowance - ISAs can offer a useful tax free way to save, whether this is for your...

Minimum Wage Increases

Mar 10, 2020 | Tax Planning

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW...