Domestic Items Relief and LandlordsPosted by Karen Jones on July 31, 2020
Understanding when domestic items relief can be claimed is important as it determines whether a cost is tax-deductible or not.
Rent a room scheme – is it tax free?Posted by Karen Jones on July 13, 2020
Learn more about how the rent a room scheme works and whether you will have to pay tax if you choose to do so.
Most Self Assessment Tax Returns are handled by Accountants for good reasonPosted by Karen Jones on June 29, 2020
Innocent errors on a tax return can be a red flag for HMRC and may well draw unwanted attention to the taxpayer. Engaging an accountant can help.
Asking HMRC for more time to pay in 2020Posted by Karen Jones on June 8, 2020
If you can’t raise the money to pay the whole of your tax bill by the due date, you can ask HMRC to agree on a time to pay (TTP) arrangement.
Self Assessment tax return – are you required to complete one?Posted by Karen Jones on May 20, 2020
Do you know if you meet the criteria for submitting a self-assessment tax return? If not then this is a MUST read…
Don’t pay Capital Gains Tax……!Posted by Karen Jones on May 8, 2020
Selling personal possessions can incur Capital Gains Tax If you sell “things” you own personally at a large profit then you could find you are hit with a large bill from the taxman for Capital Gains Tax.
Using your home as an office and taxPosted by Karen Jones on May 4, 2020
Claiming Tax relief on expenses for using your home as office including capital allowances for purchasing equipment used for business.
Tax allowable expensesPosted by Karen Jones on April 20, 2020
Claiming expenses against your tax and the importance of being “wholly and exclusive” for business purposes.
The Residential Nil Rate Band – What Does It Mean For You?Posted by Karen Jones on April 17, 2020
Learn about how the new residential nil-rate band (RNRB) and how it applies to inheritance tax (IHT).
Freelance taxes – do you employ freelancers? Don’t fall foul of the taxmanPosted by Karen Jones on April 1, 2020
Does your company use freelancers? Make sure you know the laws regarding their employment, or you could receive a large fine from HMRC.