Non-residents investing in UK residential property and UK residents investing in non-UK property must satisfy a ‘day count test’ in relation to that ... Continue Reading
The basic personal allowance is reduced where a person has ‘net adjusted income’ in excess of £100,000. The personal allowance (£10,600 for ... Continue Reading
For 2015/16 there are three rates of income tax – the basic rate of 20%, the higher rate of 40% and the additional rate of 45%. By transferring income to ... Continue Reading
ISAs provide the opportunity to receive tax-free income and gains.Using an ISA to invest £10,000 each year for ten years will provide a pot of £100,000 ... Continue Reading
If your taxable turnover is below the VAT threshold then you may not have considered whether registering for VAT could be advantageous for you. The VAT registration ... Continue Reading
A person may decide to stop trading if they are making losses. Although the loss can be relieved in the usual way against income of the same and previous year, an ... Continue Reading
If you are self-employed and usually make large profits, but incur a loss for one year, then you may be eligible to claim working tax credits or universal credit ... Continue Reading
Many benefits, including childcare vouchers up to the exempt limit and mobile phones, can be provided free of tax and National Insurance. While a tax-free benefit ... Continue Reading
If a property was at some point your PPR then the last 18 months are exempt from tax. Where the disposal took place prior to 6 April 2014, the last 36 months of ... Continue Reading
To save some of the work incurred in keeping details of expenses, individuals carrying on a trade as a self-employed sole trader or in partnership with other individuals ... Continue Reading
