If you have to travel on business HMRC accepts the cost as a tax deductible expense. However, it argued the opposite in a high profile tribunal case. Why and what was the outcome? The taxes act Tim Healy (H), the... Continue reading
You’re devoting a lot of time to getting your brand new company up and running. If it pays you for your efforts will HMRC allow it to deduct the cost of this pre-trade expense from its taxable profits? Start-up costs... Continue reading
Your latest business accounts show a loss which means it will have no tax to pay. Is it therefore worthwhile claiming extra tax deductions in the form of capital allowances or should you hold back until the business becomes profitable?... Continue reading
You’re about to be posted to another part of the country for an extended period. You’re going to let your home to a friend while you’re away. Will you be entitled to claim rent-a-room relief against the rent you receive?... Continue reading
The right time to opt to tax a property and whether you apply VAT to land and buildings that you own can be an important factor in your business tax planning. What are the key factors you should take into... Continue reading
Key points from the government winter economy plan, and how it may affect you and your business The government outlined their economic plan for the coming months; here is what this may mean to you: Grants for self-employed The second... Continue reading
Why Should You Set up a Limited Company? And why it is better than Self-employment? Limited personal liability One of the most beneficial advantages of forming your own company is the limited liability protection. This means that if your company... Continue reading
Stamp Duty Tax Holiday, Good news for Buy-to-let landlords, first time buyers and those who are planning to buy their next home. On Wednesday 8th July 2020, the Chancellor announced a stamp duty holiday for property buyers in England and... Continue reading
Starting a limited company can be a very good idea if you want to start your own business and become an entrepreneur. It gives you the freedom to expand your business and take it to new heights. However, setting up... Continue reading
As a contractor, you have the benefit of claiming business expenses. This is beneficial in the sense; you will not have to pay taxes for the amount. If you are working through your limited company as a contractor, here are... Continue reading
The GDPR comes into effect on 25 May 2018, the new regulations apply to all businesses who hold or process personal data, which will impact organisations worldwide. No matter what the size or location of your business you will need... Continue reading
Tax Implications When Selling a Property – You have finally decided that it is time to sell your buy-to-let property but unsure what the tax implication would be? Here we provide you with the tax implication that should be taken... Continue reading
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