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11 Apr 2017

ISA round up

Individual Savings Accounts (ISAs) offer an opportunity to build up tax-free savings income, subject to certain limits. For those looking to put money away in an ISA in 2017/18, there are new limits and various different ISAs on offer.

Cash ISA

The simplest I...

16 Feb 2017

Marriage allowance – can I claim it?

The marriage allowance (not to be confused with the married couple’s allowance available where at least one partner was born before 6 April 1935) enables an individual to transfer 10 per cent of their personal allowance for the tax y...

6 Feb 2017

Interest relief for lettings

The mechanism by which landlords receive tax relief for interest and other finance costs is changing from April 2017… and not for the better. The current rules are more generous than the new rules in that they enable the landlord to receive...

20 Jan 2017

New allowances for trading and property income

In his 2016 Budget speech, the Chancellor announced two new allowances would be introduced from April 2017 for money earned from `the sharing economy’. One allowance will be for trading income and the other for property inc...

12 Jan 2017

VAT Flat rate scheme – is it for me?

The VAT flat rate scheme is an optional simplified accounting scheme for small businesses. The scheme is available to businesses that are eligible to be registered for VAT and whose taxable turnover (excluding VAT) in the next year w...

16 Nov 2016

Termination payments – what is changing?

The Government has been looking at the tax and National Insurance treatment of termination payments. They consulted last summer on possible changes and have recently published their response to the consultation, together with dr...

7 Oct 2016

Below are the new minimum wage rates from 1 October 2016:

Age 25 and over - £7.20 per hour

Age 21 to 24 - £6.95 per hour

Age 18 to 20 - £5.55 per hour

Age under 18 - £4.00 per hour

Apprentice rate - £3.40 per hour

for more information please follow this link - https://www.go...

19 Sep 2016

Can I save tax even if I'm employed?

If you are an employee, you may spend your own money on things that are related to your job. Where this is the case, you may be able to claim tax relief.

What can I get tax relief for?

The rules are strict and relief is only available...

6 Sep 2016

Property losses – what can you do with them

For income tax purposes, income from land or property in the UK which is owned by the same person or group of persons is treated as forming a property rental business. Tax is charged by reference to the profits of the business...

10 Jun 2016

The start of a new tax year generally brings with it a number of changes and 2016/17 is no exception. So what has changed for this year?

The first point to note is that the personal allowance has increased from £10,600 to £11,000. The allowance is now the same for all t...

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