If the interest rate on your mortgage is higher than the interest you earn on your savings, then you can save a considerable amount of money and reduce your tax ... Continue Reading
The ‘Rent-A-Room’ relief scheme is an optional tax exemption scheme that allows property owners who let out spare furnished rooms in their only or main ... Continue Reading
If you are sent to work abroad for a continuous period of at least 60 days, then your employer can pay for two trips abroad per tax year for your spouse or civil ... Continue Reading
A limit is placed on the amount that an individual may deduct by way of certain specified reliefs from 6 April 2013 onwards. The limit is set at £50,000 or ... Continue Reading
Expenses incurred in the running of a property business will have been spent in order to generate income and as such can be deducted from income received during ... Continue Reading
For 2015/16 no employer’s National Insurance is payable on an employee’s (or director’s) earnings where the employee is under the age of 21 until ... Continue Reading
For 2015/16 there is no liability to pay Class 2 NICs if your earnings from self-employment are less than the small profits threshold of £5,965. However, if ... Continue Reading
Work carried out to an existing or newly acquired property resulting in the property being improved or altered is deemed to be a capital expense, which is deductible ... Continue Reading
Income tax and capital gains tax reinvestment relief is available to investors in the Seed Enterprise Investment Scheme (SEIS). Income tax relief is available to ... Continue Reading
As highlighted in Tip 34 PAYE should be paid on time each month to avoid late payment penalties.However, to avoid getting caught out by bank holidays and weekends, ... Continue Reading
