Common Questions
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Pension payments – What tax relief is available?
To encourage pension savings, tax relief is available on contributions made to registered pension schemes.
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Should I pay Class 2 NIC voluntarily?
Entitlement to the state pension and certain contributory benefits depends on an individual having paid, or been credited with, sufficient National Insurance contributions.
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Can you benefit from the trading allowance?
The trading allowance enables an individual to earn up to £1,000 from self-employment,
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The new rules on VAT penalties
The VAT default surcharge is being replaced with a new VAT penalty and interest regime.
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Reduction in the dividend allowance
The dividend allowance is available in addition to the personal allowance.
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Rising mortgage costs – What tax relief is available?
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax relief where it is available.
