Tax

Luke is self-employed as a graphic designer. He runs his business from his house.

The cash basis takes account only of money in and money out – income is recognised when received 

Although the National Insurance rates and thresholds for 2022/23 had already been set, at the time of the Spring Statement     

Legislation surrounding 'Trivial Benefits' was introduced to save employers from

There are, however, several areas where employers can use tax breaks and exemptions to help promote health and fitness at work.

Rent-a-room relief was introduced to encourage people to let spare rooms in their own home in order to increase the supply of low-cost rental accommodation.

Where a property is located in a holiday region, a consideration will be whether to let it as a furnished holiday let or on a longer-term basis.

When you start a business, you will need to incur costs before you are able to start trading.    

Where incorporation is being considered, it is usually permissible to carry forward any unused losses 

To help companies realising losses as a result of the Covid-19 pandemic, the loss relief rules were amended to provide for an extended carry-back window.