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Our News page is updated daily and the news feed is supplied by Sift media who are well respected writers in the industry. If you are interested in new laws, guidance and reports on anything that is happening in Government that could affect your business, these posts -will be useful. You can also sign up to receive them in your inbox.
What is the 24 month rule when working overseas
The basic 24 month rule applies – if you are an employee or director and work, or know you will work, at a temporary workplace for 40% plus of your working hours for over 24 months - you are caught by the ‘24 month rule’ and can no longer get tax relief on related...
What to do if you have gone over the VAT threshold?
You should talk to an accountant urgently! If at any point during a 12 month period, (good to review this monthly) your turnover exceeds the VAT threshold of £90,000, you must register within 30 days from the end of the month in which you went over the limit. If the...
Should I pay myself extra salary or extra dividends?
Generally, for small Companies, dividends are still more tax efficient than salary because, despite incurring dividend tax, they avoid 15% Employer’s National Insurance plus, possibly, 8% Employee’s National Insurance. So usually it’s better to vote, and pay dividends...
What is the 24 month rule for travel expenses?
When an employee or director travels to a temporary place of employment, from their permanent place of employment (usually the home address for Personal Service Companies), then they can claim tax relief on relating travel & subsistence expenses. However, if/when...
What expenses can I claim against my rental property?
This is a list of tax deductible expenses that you can claim against your rental property income. Mortgage interest is claimable in full but there are special rules regarding tax relief Management charges/commission to letting agencies Property repairs – but not...
I pay National Insurance in my job and also on my self- employed work, is this right?
If you have income from more than one job, or from both self-employed and employment, you could be paying National Insurance (NI) on both. In such a case, for 2025/26, you can complete form CA72A at www.gov.uk/defer-national-insurance and send it to HMRC before 14th...
Can I claim tax relief on my car if I’m a sole trader?
I use my car for my self-employed business – it cost £5,000*. Can I claim tax relief? Yes - but it's complicated – and it depends on the CO2 emissions of the car. For cars bought after 6th April 2021: Second-hand electric cars, and cars with CO2 emissions over...
Should you buy a car via HP or lease a car?
Most importantly, it depends on the deal. So, get your calculator out! But do watch out for excessive mileage penalties in lease agreements. Tax treatment varies depending on the method used to acquire a car – but it is often not tax efficient for a Company to...
Starting a business checklist – 20 things to consider
When starting a business there are a lot of things to think about and a checklist can be useful. The checklist below is not exhaustive but it does include tasks that are sometimes overlooked by people starting out in business. It is always worth talking to an...
What are shares and dividends in a company?
How ownership of a company is represented by the shares held by each shareholder.
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