Financial Planning
Up to date information on coronavirus financial aid Guidance about coronavirus financial aid included help with tax and payroll issues continues to develop making it tricky to keep track of. Here are the key facts and where you can find the latest information. Tax – time to pay arrangements (TTP): HMRC has scaled up its […]
Are You Prepared for the New Tax Year 2020? With all the headlines being taken up by other matters, it’s easy to overlook that 6th April saw the start of a new tax year 2020/21, so we have set out below the main taxes and allowances for the year. Remember that we’re always on hand […]
What is Stamp Duty Land Tax? Stamp Duty Land Tax (SDLT) is payable in England and Northern Ireland by the purchaser, on the consideration paid under a land transaction, and can be a major cost for property investors. The rate paid depends on whether: the property is commercial or residential the purchaser is a first-time […]
There have been new regulations introduced for Child Trust Funds. Maturing trust funds Child Trust Funds have new regulations, following the results of a consultation. The government has set out new rules for when child trust funds (CTFs) mature. CTFs were introduced nearly 18 years ago to hold tax-free savings and investments, boosted by a […]
Pension annual allowance contributions – have you fallen into the trap? When it comes to understanding the pension annual allowance (AA), it’s easy to fall into a trap. The most that you can contribute to your pension savings in a tax year before a tax bill is triggered is limited to the AA. The AA […]
End of year tax planning is critical. Now the end of the tax year is fast approaching, we’ve taken the opportunity to remind readers of some useful tips and tricks for getting your taxes in shape for the 12 months ahead. End of Year Tax Planning: Personal tax New sources of income. Taxpayers with new […]
Covid-19 Statement and useful advice Updated: 28 July 2020 Coronavirus Financial Help & Rights Helpful information on sick pay, employment rights, information for the self-employed, tax payments & more Useful information and updates from Martin Lewis’ ‘MoneySavingExpert’ page here. The Government Coronavirus Measures The government has issued a number of measures that aim to help […]
If you missed the HMRC self-assessment deadline on 31 January will fine you £100 and more if you continue to delay. It will cancel the penalty if you have a reasonable excuse but if you don’t have one is there another way to dodge a fine? It’s a common misunderstanding that if you owe tax […]
New HMRC IR35 factsheet for contractors – what you need to know With only weeks to go before the new rules for off-payroll working apply, HMRC has produced a new IR35 factsheet for contractors who are working through intermediaries. What’s the full story? If you provide your services to a client through an intermediary e.g. […]
Thinking of setting up a commercial property business? Here are the tax implications of setting up a commercial property business. Tax on commercial property business covers anything that HMRC doesn’t class as a ‘dwelling’ – ie a place where people live which is self-contained (so it doesn’t include hostels, hotels etc). It can include anything […]
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