What can you do with tax losses

Sep 28, 2017

Tax losses can arise due to a difficult trading period. They can also be created if you invest in qualifying equipment and you are able to set this cost against your trading profits – if the cost of…

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What is subject to Stamp Duty Land Tax

Sep 26, 2017

Most of us are aware that we pay Stamp Duty Land Tax (SDLT), or the regional equivalents, when we buy a property, but that is just the tip of the iceberg. For example, if you give something of value…

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New Data Protection Bill

Sep 21, 2017

The Government has published the long-awaited Data Protection Bill that will incorporate most of the provisions set out in the EU General Data Protection Regulation. This will apply from 25 May 2018,…

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Claiming for employment related expenses

Sep 19, 2017

If you are employed, and this will include most directors, you can claim for expenses that you have paid for personally, to be set against your income liabilities for the relevant tax year.

You…

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When is a replacement an improvement

Sep 14, 2017

We are often asked by landlord clients to clarify the difference between a replacement item of furniture, furnishing, household appliances or kitchen ware, and a purchase that may be considered an improvement.…

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Tax free dividend squeeze confirmed

Sep 12, 2017

The government reintroduced the remainder of the March budget last week, it’s the part that was held-over to accommodate the May 2017 general election.

It confirms two items that will be of…

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30 hours free childcare for working parents

Sep 07, 2017

The Department for Education released the following press release last week regarding the new childcare support offer that commences from 1 September 2017. They said:

Parents of three and…

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Beware self employed contributions trap

Sep 05, 2017

To qualify for the full, new State Pension you will need to have 35 years of contributions. At present, the self-employed pay Class 2 (a fixed weekly amount of £2.85) and Class 4 contributions (9% of…

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Common misconceptions about tax and letting property

Sep 05, 2017

HMRC has published a list of popular misconceptions that taxpayers have about letting property. We have listed below a summary of situations where you will need to declare rental earnings to HMRC:

  • If…

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