by Admin | 18 Mar, 2021 | Business
When deciding whether an expense is allowed or disallowed for tax purposes it is important to bear in mind that the expenditure must be incurred wholly and exclusively for the purposes of your trade or employment. Under the legislation any expenditure not incurred...
by Admin | 18 Mar, 2021 | Employment & Payroll
If you use your own vehicle for business journeys, then you may be able to claim a tax-free allowance from your employer known as a Mileage Allowance Payment or MAP. The allowance is available if employees use their own car, van, motorcycle or bike for work...
by Admin | 18 Mar, 2021 | Income Tax
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both or either type of income highlighted below then you can claim a £1,000 allowance for each. The £1,000 exemptions from tax apply...
by Admin | 18 Mar, 2021 | Income Tax
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. If you are using this scheme you should ensure that rents received...
by Admin | 17 Mar, 2021 | Business Support
Although it cannot be understated, that COVID has resulted in widespread personal tragedies and business hardships, there are stories circulating of businesses that have managed to buck the downward trend. Very often this is due to being in the right sector to take...
Recent Comments