by Admin | Sep 8, 2021 | Business
The 1,25% increase in NIC contributions from April 2022 will be mirrored by a similar increase in the tax charge on dividends. From April 2022, the dividend tax increases will apply as follows: Basic rate taxpayers will see an increase from the present 7.5% to...
by Admin | Aug 19, 2021 | Business
There are special rules for the taxation of post-cessation receipts and expenses after a trade has ceased. These provisions also apply to professions and vocations as they apply to trades. Tax relief may be available for post-cessation expenses of a trade, although...
by Admin | Jun 10, 2021 | Business
When deciding whether an expense is allowed or disallowed it is important to consider that the expenditure must be incurred wholly and exclusively for the purposes of your trade or employment. Under the legislation any expenditure not incurred wholly and...
by Admin | Jun 3, 2021 | Business
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. Landlords can use the cash basis when recording income and expenditure i.e., recording the flow of money from and to the...
by Admin | Mar 18, 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...
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