Generally speaking, you get a bigger state pension for each year in which you pay National Insurance contributions. But sometimes, taxpayers don’t have enough income to be charged National Insurance – so risk having a smaller state pension. If you are...
Electric cars were not Tax efficient but they will be! For a couple of years I have been saying that electric cars for Company owners are tax efficient with 100% write-off against profits in the year of purchase, and low benefits-in-kind on the director/employee....
How to register for CIS The Construction Industry Scheme is a scheme that applies to payments to self-employed workers and businesses in the Construction Industry. Under the scheme tax is deducted from payments and paid over to HMRC. There are two sorts of people...
When Boris Johnson announced his ‘triple tax lock’ during the election campaign in late 2019, it was seen as a good thing by many people because, generally speaking, although we all tend to think certain other people (or companies) should pay more tax, we don’t want...
Stamp duty There are 3 rates of Stamp Duty Land Tax on the purchase price of a commercial property: 0% up to £150,000; 2% on the next £100,000; 5% over £250,000. VAT With commercial properties, the landlord normally applies to HMRC to ‘opt to tax’ –...
If you are a UK resident and you are selling your residential property on or after 6th April 2020, any Capital Gains Tax due will have to be calculated and paid to HMRC within 30 days of the sale. For the vast majority of sales, no Capital Gains Tax (CGT) will be due...
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