12 common questions people ask about expenses they can claim when running a business from home. What is an allowable expense? Won’t my allowable expenses be similar to other businesses similar to mine? What factors are taken into account when apportioning an expense? Are heating, lighting and power costs allowable? Are telephone and broadband costs…
Making Money from Shares Share investments can derive income in two ways. Firstly, income in the form of dividends and secondly from their increase in capital value that can be realised later on. It’s possible to invest directly and hold the shares personally, but what are the implications of using a company and is there…
Most businesses have had a very difficult year due to the pandemic. Unfortunately, some have had to make major changes including letting staff go and restructuring their businesses resulting in redundancies. Making staff redundant is hard for any small business as employees can become as close as family.
In July 2020 the Chancellor of the Exchequer asked the Office of Tax Simplification (“OTS”) to carry out a wide-ranging review of Capital Gains Tax (CGT). The OTS has made a number of significant recommendations. Many of the recommendations are not new and many of them seem to involve reintroducing concepts in CGT that have…
The hospitality and attractions sectors are enjoying a special 5% VAT rate which applies from 15 July 2020 to 12 January 2021.
Under the Construction Industry Scheme there are essentially 3 payment statuses. A payment status dictates how a subcontractor is paid;
One of the key measures announced by the Chancellor in July was the reduction in Stamp Duty Land Tax (SDLT) on residential property. The purpose of the reduction is to boost the housing market and support the construction industry.
With Coronavirus restrictions in place throughout the country, this year a number of business will be unable to offer their normal staff Christmas party. Are businesses able to utilise the £150.00 exemption at another point in the year?
