Do I need to pay tax on rental income?
If you have net rental income on which you’ll have tax to pay, (rent minus expenses) then you must register for a Self- Assessment tax return and keep a record of your rental income and ‘allowable’ expenses (you can find out what they are here...How do I change the ownership split on a buy-to-let property?
When a property is owned by a couple (married or civil partnership), if they change the ownership from 50:50 to another ownership split, then a form (Form 17) must be submitted to HMRC within 60 days of the transfer. This must be sent with evidence of the new split...Tax rules for Christmas parties
It’s that time of year when most employers arrange a Christmas Party for their staff. The rules around tax relief for Christmas parties are fairly generous so long as the party is open to all employees and not just directors/management. Party costs (including travel...Should I pay myself extra salary or extra dividends?
Generally, for small Companies, dividends are still more tax efficient than salary because they avoid 13.8% Employer’s National Insurance plus, possibly, 12% Employee’s National Insurance. So usually it’s better to vote, and pay dividends – but it depends on your...Can HMRC collect unpaid tax from my salary?
HMRC can collect outstanding tax via an employed tax code after a Self-Employed business fails.