Our useful and practical blogs are packed with advice and tips to help you manage your business and finances. Read our latest additions below.
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01/09/2022
Are you trading?
It will not always be apparent when a hobby tips over into a trade. HMRC use the badges of trade to ascertain whether a trade exists. Find out from our blog what the badges are and how to determine whether you are carrying out a trade, and if you need to tell HMRC.
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Take advantage of the dividend allowance
Every individual has a £2,000 tax-free dividend allowance. Read this article to find out how to make use of family members’ dividend allowances to extract profits from a family company in a tax efficient manner.
Is a property company a tax-efficient option?
Recent tax changes have led unincorporated landlords to consider operating through a property company. Read our blog to discover the tax implications of doing so.
03/08/2022
Common deductible business expenses
You can deduct expenses incurred wholly and exclusively for the purposes of your business to arrive at your taxable profit. Discover which expenses are commonly deductible.
02/08/2022
Make tax-free income from renting your drive
The property allowance enables you to enjoy tax-free rental income of up to £1,000 a year. Discover how you can use this allowance to earn tax-free income from renting out your drive.
01/08/2022
How to claim the IHT transferable nil rate band
Where a person dies and does not use up their nil rate band or residence nil rate band for inheritance tax purposes in full, the unused percentage can be used on the death of their spouse or civil partner.
04/07/2022
Loans to directors – beware of the higher section 455 charge
Section 455 tax is payable by a company where a director’s loan remains outstanding at the corporation tax due date. Read this blog to find out about rate of the tax and the steps that can be taken to avoid it.
01/07/2022
What qualifies for private residence relief?
Private residence relief shelters a gain on your only or main home from capital gains tax. Read this blog to find out the conditions that apply to access the relief, and the traps to avoid.
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