1 day to delay tax by 12 months What is the issue? Dividends are generally taxable on the date they were received. This sounds simple, but if the tax rate changes this can be vital to avoid overpaying tax. For example, a dividend was received on the 5th April 2020, then the tax on it… Read more »
Posts Tagged: Tax
Local Lockdown Cash Grant
Find out about the cash grant for businesses affected by local lockdowns. What is it? The government has announced several local lockdowns, during which some businesses have to close their doors. To help these businesses, and to protect jobs, the Government has announced a new cash grant. You will only be eligible for this grant… Read more »
Job Support Scheme
Find out about the Chancellor’s new Job Support Scheme. What is it? Although the furlough scheme is coming to an end on the 31st of October 2020, the Chancellor has announced the new job support scheme, which will run from the 1st November for 6 months. This will help to pay the wages of workers… Read more »
Kickstart Your Business
Find out about the Government’s Kickstart Scheme for Under 25s What is it? The Government’s Kickstart Scheme has opened for applicants, but what is it? It has been created by the Government to help young unemployed people. The Government will provide funds to cover a six month job placement for people who are 16-24 years… Read more »
Posh Log Cabin → Office → Business Expense?
Find out whether your garden office could be a business expense. What is it? Working from home has been the dream for countless people across the country, and because of Covid-19 they have been doing, though not quite in the manner many expected. If Covid-19 continues and more people are working from home, there is… Read more »
£20 million boost to business
Find out about the Government’s new £20 million grant. What is it? The Government has announced a £20 million scheme to help smaller businesses access new technologies and professional advice to help them get back on track after the Coronavirus. The grants will range between £1,000 and £5,000 each and will be fully funded by the… Read more »
Green Homes Grant – Too Good to be True?
Find out about the Government’s new Green Homes Grant, and what it could mean for you! What is it? In July, the Chancellor, Rishi Sunak, accounced the Green Homes Grant. The Grant will provide £2 billion for people across England and Wales to improve their homes to reduce carbon emissions. The scheme will start in… Read more »
FHL Capital Allowances
Find out about how FHLs work for tax purposes in our tax tip. What is it? Over the past few years, Airbnb has become an essential part of the holiday industry. The way Airbnb works it that the property owner can rent out their property, or even just a room, on a short-term basis. Many… Read more »
Tax relief on pension contributions
Following HMRC’s victory in court they could reclaim millions of pounds in tax. What contributions are there? If you are a UK taxpayer you can get tax relief on pension contributions of up to 100% of you earnings, or £40,000 whichever is lower. This means that some money that would otherwise go the tax man… Read more »
Tax Relief When Working From Home
HMRC allows some generous tax reliefs for both employees and the self employed who are working from home. If you are working from home, then you may be entitled to claim tax relief. This is restricted to the purchase of items “wholly, exclusively and necessarily” for work. This may include: The additional cost of gas… Read more »