Tax On Social Media Earnings Increasingly more and more people are turning to YouTube and other social media platforms to supplement their existing income, or to start a new career. There are many considerations you need to make when moving into this field, such as what type of content will […]
The question is: Are ransom payments made by a business to access its IT systems tax deductible? Everyday more and more news reports highlight the threat ransomware and cyber terrorism impose on our institutions and businesses. Workplaces are increasingly dependent upon IT systems and infrastructure and data breaches have a […]
In the UK, dividend waivers are a mechanism that allow a shareholder to give up their right to receive a dividend payment from a company. This can be done for a variety of reasons, such as, to reduce the company’s tax liability or to distribute profits in a more tax-efficient […]
Most people are aware that if you get a company car as part of your employment, the car will create a taxable benefit in kind. The employer is probably not going to be able to recover any VAT on its purchase either because HMRC will usually view that it is […]
The UK tax year runs from 6 April to 5 April of the following year. Here are some end of year tax planning tips: Make use of ISA’s – these accounts allow you to save and invest tax-free so consider making use of your ISA allowance before the end of […]
Over the last few years there have been numerous changes to tax legislation relating to residential properties. We thought it would be a good idea to have a quick reminder on the main areas you need to consider. Capital Gains Tax Reporting regime UK residents who sell their UK residential […]
Of the many tax obligations people must consider, one of them is whether you need to become registered for VAT. VAT is chargeable on: any supply of goods or services; made in the UK; where it is a taxable supply; made by a taxable person; in the course of furtherance […]
In our previous blog, Inheritance Tax Exemptions – Christmas is a time for giving, we explained some of the main exemptions available to reduce your estate and any IHT liability it may attract. One such exemption, which is potentially the most valuable, is that of “Normal Expenditure out of Income”. […]
Land and property are usually the most expensive assets a person will own throughout their lifetime, whether it is their home, their business premises, or even a holiday getaway in the country. As a result, they often attract the largest tax bills a person might have to pay. These […]
There are so many ways to work that it can sometimes get very confusing. People generally classify two key ways, you work for someone else or you work for yourself, but there are many different classifications of “jobs”. The old 9-5 For many being part of team on the payroll […]
