by AJN Accountants | Dec 1, 2022 | Property, Tax Planning
When buying a residential property in England or Northern Ireland you must pay stamp duty land tax (SDLT) if the purchase price exceeds a minimum threshold set at £125,000 since 2006. In September’s mini-Budget the then Chancellor announced that the entry...
by AJN Accountants | Nov 28, 2022 | Accounting, Advice, Property, Tax Planning
Capital gains made by individuals are generally taxed at lower rates to income and taxpayers benefit from a separate annual exemption that covers the first £12,300 of gains made per year. This exemption will be reduced to £6,000 for the tax year 2023-24 and then to...
by AJN Accountants | Nov 21, 2022 | Advice, Business, Financial Planning, Tax Planning
Several investment schemes provide a basket of tax reliefs to individuals who are prepared to risk their money by subscribing for new shares in small trading companies. Two such schemes are the Enterprise Investment Scheme (EIS) and the similar Seed Enterprise...
by AJN Accountants | Nov 18, 2022 | Accounting, Advice, Financial Planning, Tax Planning
In last week’s Budget the Chancellor stunned his audience by announcing that both the basic rate of tax and the highest ‘additional’ rate would be reduced from 6 April 2023. Around 50% of taxpayers only pay tax at the basic rate and they will benefit...
by AJN Accountants | Oct 26, 2022 | Accounting, Advice, Business, Tax Planning
Many employers will advance modest loans to employees to meet upfront costs which they necessarily incur to enable them to work, such as a travel season ticket or a deposit for childcare costs. Such loans can also be provided to help towards other unexpected costs...
by AJN Accountants | Oct 20, 2022 | Advice, Contractors, Small Businesses, Tax Planning
Travelling to the workplace may now be unaffordable for some employees but employers who help by reimbursing travel expenses could be creating an extra tax burden for themselves and their employees. The journey between an employee’s home and their permanent...
