by | 31 Aug, 2023 | Income Tax
Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax year e.g., for 2022-23 the first payment on account was due on 31 January 2023. 31 July...
by | 31 Aug, 2023 | Capital Gains Tax
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax. However, if certain conditions are met, the payment can be treated as an exempt distribution. An exempt distribution is a...
by | 31 Aug, 2023 | Capital allowances
If you are thinking about purchasing a company car through a limited company, there are many issues that need to be considered. In this short article we will point out some of the main issues, but it is important to research this area and weigh up all the...
by | 31 Aug, 2023 | Income Tax
The gift aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers. This means that where a basic rate taxpayer claims gift aid on a £100...
by | 31 Aug, 2023 | Pension
You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance for 2022-23 was £40,000. You can claim tax relief on...
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