Woman Calculating Tax

Making tax digital: VAT first

  • 11 Dec 2017
  • Nov

The objective of the Making Tax Digital (MTD) project is to get businesses to record their accounting transactions digitally through accounting software and to use that software to...

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Court Hammer

How to fight an NRCGT penalty

  • 11 Dec 2017
  • Nov

Taxpayers who live abroad may sell UK property. Before 6 April 2015 any gains they made would have escaped UK tax. Now such non – resident property owners must pay non-reside...

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Man Enjoying Retirement With Grandchild

State pension: when to stop

  • 11 Dec 2017
  • Nov

In order to receive the full flat-rate state pension (currently £159.55 per week) you need to accrue 35 years of national insurance (NI) credits. It’s easy to find out how m...

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Paying Online

Paying HMRC

  • 11 Dec 2017
  • Nov

If you don’t pay your tax on time you will be charged interest at 3% and possibly a penalty. But the methods you can use to pay tax are being restricted, as HMRC is nudging p...

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Calculating Budget Tax

Budget for your tax bills

  • 11 Dec 2017
  • Nov

Many company owners take a small salary and variable amounts of dividends from their company each year. Previously, the dividends came with a tax credit, so there was no further ta...

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British Money Notes

Money laundering regulations

  • 11 Dec 2017
  • Nov

Many categories of business must register and be supervised under the money laundering regulations (MLR). This includes all accountants, estate agents, currency exchangers, bill pa...

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Row Of Houses

Property allowance

  • 11 Dec 2017
  • Nov

When you let one or more furnished rooms in your own home, the rental income can be free of tax if it is covered by rent – a – room relief, currently capped at £7,500...

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Man Typing

NIC for the self-employed

  • 11 Dec 2017
  • Nov

For reasons lost in the mists of time, self – employed individuals pay two types of national insurance contributions (NIC): Class 2 and Class 4. Class 2 is charged at £148.2...

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Tax Calculate

Simple assessments have arrived

  • 11 Dec 2017
  • Nov

The self assessment tax return system has been with us for over twenty years now and it is certainly not simple. Pensioners in particular find that they are required to submit a ta...

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Tax Data 2018-19

  • 28 Nov 2017
  • Nov

All figures are annual amounts. Allowances Personal allowance £11,850 Tapered on income above £100,000 Transferable to spouse/civil partner taxed at 20% £1,185 Trading income £...

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