Can I get Tax Relief on Pension Payments? What is a pension, and how does it work? A pension is a financial product that lets you save up to fund your retirement. Technically, it’s a kind of tax wrapper with specific rules around what you can save and when you can access your cash. There […]
What can be claimed as an expense for a Limited company? What is a Limited Company? A Limited Liability Company is an “incorporated” business structure that means that to bring the company into existence, it must first be formally registered with Companies House. Once registered, the limited company is an entirely distinct “legal entity”, separate […]
Autumn Budget 2021: Big changes incoming for R&D The Chancellor announced a number of changes, policies and reforms as part of the Autumn Budget – most notable among these for us were the incoming changes to the R&D Tax Credit structure. The Chancellor made sure it was well known that the underlying theme […]
Your guide to EMIs Enterprise Management Incentive (EMI) schemes are great for keeping and encouraging employees by awarding significant tax benefits to both company and worker. Typically, you may see EMIs being used as a tax-efficient tool to aid with a company’s internal growth (such as bringing up key workers to have a stake in […]
I’m a Sole Trader and I’ve made a loss in opening years; can I claim relief? A sole trader or an individual in a partnership making a loss has zero taxable profit for the year. Keeping in mind that losses are calculated in the same way as profits, loss relief is an option for […]
Car Benefits: Your 2021/22 Tax Guide Car benefits are a topic which is often brought up in enquiries with our clients, so this article will go over some concepts in the interest of tax planning for the acquiring cars through businesses. Generally, when a business owner uses their own car in the interests […]
Your Pension Obligations as an Employer Pensions are an essential resource for individuals as a reliable source of income to live on when they retire from working. A recent investigation found that the average pension pot savings across the UK are £61,897 which tends to also come with an extra £12,000 annually in retirement income. […]
Remittance Basis for Non-Doms in the UK What does the term ‘Remittance Basis’ mean to you? If you are a domiciled UK resident it probably won’t mean much, but if you are non-domiciled (or non-dom) this is a concept which you should familiarise yourself with as it could be a huge advantage in your […]
New Guidance for CGT on House Sales Selling property is not as simple as it used to be. With tighter rules being enforced by HMRC over the last few decades sellers need to be aware of these changes and how they are affected, particularly when concerning the disposal of UK residential property. A UK residential […]
Preventing abuse of R&D Tax Relief for SMEs What are the R&D Tax Credit measures due to come in for accounting periods starting from 1st April 2021? The proposal in the Finance bill is: A company claim for payable credit (R&D Tax Credits are only available under the SME scheme to claimants making a loss […]
What is Investors Relief Investors relief is a government scheme implemented to reduce the capital gains tax on the disposal of shares in a private trading company that is not listed on the stock exchange. It applies to shares that are issued on or after 17 March 2016 that are disposed of on or after […]
Enterprise Investment Scheme (EIS) What is EIS? EIS uses tax reliefs to incentivise private investors who recognise that significant returns are achievable if they are willing to risk their funds by investing in early-stage businesses. Early-stage businesses often struggle to raise equity finance, so EIS has established itself as a trusted and crucial source of […]
