Category: Taxman

What changes are being made to capital gains tax on property in April 2020?

From April 2020 the rules surrounding capital gains tax on the sale of residential property will be changing, are you prepared? The proposed changes were announced by former Chancellor Phillip Hammond in the 2018 Budget and are due to come into effect on 6th April 2020. The main changes relate to: Timescale for payment of…




Is your business’ payroll affecting retention rates?

Mistakes or inefficiencies in your company payroll could be having a negative effect on retention rates and employee wellbeing. A recent study conducted by an independent research firm and commissioned by Zellis, found that 21% of Brits have changed jobs after being paid late or inaccurately by their employer. The research found that a shocking…




Did you know that you can claim for these expenses on your tax return?

If you’re self-employed, make sure you know what business costs you can claim for on your tax return to avoid paying more than is necessary in expenses. Whether you rent your own office or work from home, running your own business can be expensive. Luckily, a lot of the costs incurred when setting up and…




How are landlords taxed for rental properties?

If you’re a landlord, it is your responsibility to pay tax on the income you receive from your rental properties. Managing rental properties can be a lucrative full-time job, or a small second income, either way the profits you earn will be liable to income tax. Income tax is due on your total profit once…




What is IR35 and how can it affect the tax a contractor pays?

Contractors falling inside of IR35 could see their net income reduced by up to 30%, so it’s important to have a good understanding of what IR35 is and how it works. In a bid to encourage entrepreneurship, the government offers tax benefits to contractors working as limited companies to reduce the risks involved with setting…




How Generous Will the Taxman Allow You To Be With Your Gifts This Year?

This time of year, most businesses owners will be looking forward to letting their hair down at various end of year functions as well as Christmas parties. The good news is there is a chance that Some of these events could be made all the merrier with some favourable treatment from HMRC as long as…