by Admin | Nov 10, 2022 | Income Tax
The dividend tax allowance was first introduced in 2016 and replaced the old dividend tax credit with an annual £5,000 dividend allowance. Tax was payable on dividends received over this amount. The tax-free dividend allowance was reduced to £2,000 with...
by Admin | Nov 3, 2022 | Capital allowances
Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow benefit of accelerated tax relief is designed to encourage businesses to invest in capital items which help reduce their carbon...
by Admin | Nov 3, 2022 | Employment & Payroll
Company directors or any other person who has been appointed to a position by a company or organisation but doesn’t have a contract or receive regular payment as office holders are neither employees nor workers. Company directors who also...
by Admin | Nov 3, 2022 | Stamp duty
Stamp Duty is paid on shares bought on a stock transfer form. A stock transfer form is the standard form used for transfers of shares from one person to another. If you use a stock transfer to buy stocks and shares for £1,000 or less, you do not normally have to...
by Admin | Nov 3, 2022 | Inheritance Tax
There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT) if you inherit the estate of someone who had died. One of these reliefs is known as IHT Business Relief and is a valuable tax relief for taxpayers with business interests,...
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