Allowable costs for property businesses
Costs that can be deducted by individuals that have a property rental business, depend on the type of property that is being rented out. There are three main categories of property business that need
Business Advice
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What is Mileage Allowance relief?
Employees who use their own car at work can under certain circumstances be paid a tax-free allowance by their employers when using their own car, van, motorcycle or bike for work purposes. This is
IHT Disclosure of Tax Avoidance Schemes from April 2018
The Disclosure of Tax Avoidance Schemes (DOTAS) legislation, targets taxpayers who implement listed tax avoidance schemes as well as the promoters of tax avoidance schemes. New regulations came into
Capital Gains after divorce or separation
When spouses or civil partners are living together they are both treated as separate individuals for Capital Gains Tax (CGT) purposes. However, assets can be transferred between them free of CGT. This
Funeral Expenses Payment
Paying for a funeral can be expensive, and research shows that the average funeral arranged using a funeral director costs over £4,000. The Funeral Expenses Payment or Funeral Payment is a
Updating the PSC register
The register of People with Significant Control (PSC register) came into effect on 6 April 2016. The PSC register is used to identify and record the people who exert significant control over UK
Claiming the employment allowance
The employment allowance of £3,000 per year, is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal
PAYE late filing penalties
There are late filing penalties in place for employers that don’t report payroll information on time. The size of the late filing penalties depends on the number of employees within the PAYE
New advisory fuel rates published
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or
Venture Capital Schemes advance assurance
There are four tax-advantaged Venture Capital Schemes currently available: The Seed Enterprise Investment Scheme (SEIS) The Enterprise Investment Scheme (EIS) Venture Capital Trusts (VCTs)