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Ending enhanced capital allowances for energy and water efficient plant and machinery

Ending enhanced capital allowances for energy and water efficient plant and machinery The lists of energy efficient and environmentally beneficial technologies and products which are eligible for...
/news/ending-enhanced-capital-allowances-for-energy-and-water-efficient-plant-and-machinery.htm

HMRC to use Automatic Search Programmes

HMRC to use Automatic Search Programmes!   The Taxman has announced he is going to start targeting tax evasion by online traders, private tutors, personal trainers and life coaches. ...
/news/hmrc-to-use-automatic-search-programmes.htm

Unincorporated businesses

Unincorporated businesses The affected rules are those in ITA 2007, s.64, i.e. "sideways" loss relief. This permits a trader to set off losses suffered in a tax year against general i...
/news/unincorporated-businesses.htm

Q. I own a property in the UK that is rented out but I live and work in Italy...

Q. I own a property in the UK that is rented out but I live and work in Italy. The taxable profit from the rental property is less than £10,000. Will I have to pay UK tax on this property inc...
/news/q-i-own-a-property-in-the-uk-that-is-rented-out-but-i-live-and-work-in-italy.htm

Rent-a-room tax break remains

Rent-a-room tax break remains HMRC's rent-a-room scheme currently allows individuals to receive up to £7,500 of gross income from renting out spare rooms in their only or main home wi...
/news/rent-a-room-tax-break-remains.htm

FAQ

Frequently Asked Questions Q. I have recently started a new job and, for the first time in my career, I have been provided with a company car. I have to pay for fuel for private use but my empl...
/faq.htm

Furnished Holiday Lettings Rules are Changing

Furnished Holiday Lettings Rules Change   Owners of furnished holiday lettings who are thinking of improving their properties have until 5 April 2011 to take advantage of some favourab...
/news/furnished-holiday-lettings-rules-are-changing.htm

Am I subject to income tax relief clawback if my wife sells gifted shares?

Q. I am very keen on investing in entrepreneurial companies, over the years, I have made several investments that qualified for the EIS. Two years ago, I made such an investment, and three months l...
/news/am-i-subject-to-income-tax-relief-clawback-if-my-wife-sells-gifted-shares.htm

Covid-update

COVID-19 On 1 August the government’s furlough contribution fell to 60%, meaning the employer will need to pay 20% to ensure the employee receives their entitlement of 80% (subject to a &...
/news/covid-update.htm

Traps with the Flat Rate VAT Scheme

Traps with the Flat Rate VAT Scheme The VAT flat rate scheme for small businesses is generally straight-forward to operate, but here are a few traps to watch out for. Use the right rate&...
/news/traps-with-the-flat-rate-vat-scheme.htm

Tax Efficient Profit Extraction

Tax Efficient Profit Extraction As a company owner you can choose how to extract the profits from your company, and by making the right choices you can minimise the tax and NI paid by you and t...
/news/tax-efficient-profit-extraction.htm

Self Employed Teachers to Tell All

Self Employed Teachers to Tell All   The Taxman has launched another campaign to encourage people to pay tax on income they have previously omitted from their tax returns. This time pr...
/news/self-employed-teachers-to-tell-all-87.htm

Changes to dividend taxation

Changes to dividend taxation From 6 April 2016, the dividend tax credit will be replaced by a new dividend allowance in the form of a 0% tax rate on the first £5,000 of dividend income pe...
/news/changes-to-dividend-taxation.htm

Dividends

Dividends The dividend tax credit (which reduces the amount of tax paid on income from shares) is to be replaced with a new £5,000 tax-free dividend allowance for all taxpayers from April...
/news/dividends.htm

I am a higher-rate taxpayer. My wife currently works part time and pays tax at the basic rate. We ha

Q. I am a higher-rate taxpayer. My wife currently works part time and pays tax at the basic rate. We have a second property that we rent out but the deeds are held in my sole name. Is it worth putt...
/news/i-am-a-higher-rate-taxpayer-my-wife-currently-works-part-time-and-pays-tax-at-the-basic-rate-we-ha.htm
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