Resources
Categories
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Companies – claim extended loss relief online
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.
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Use simplified expenses to save work
A lot of time and paperwork can be saved by claiming expenses using the simplified rates
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Using allowances are an easy way to save tax
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free.
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Director’s loan accounts
HMRC commonly find errors in relation to directors’ loan accounts when making routine reviews of company tax returns.
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Filing 2021/22 expenses and benefits returns
Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6 July 2022, unless they have been payrolled or included within a PAYE Settlement Agreement.
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Is tax payable on tips?
Broadly, their treatment will depend on how they are paid to the recipient.
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Earn money from a hobby or casual work?
This allowance may be particularly useful to those who sell items online, tutor pupils, babysit or are self-employed in another form.
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Using the £1,000 property allowance doesn’t always mean you pay the least tax
The property allowance of £1,000 was introduced from 6 April 2017.
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Crypto
Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed to stand apart from any government or bank they work through a computer network.
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How to maximise your business expenses
When calculating your profits, expenses are deductible to the extent that they are incurred wholly and exclusively for the purposes of the business.