National Insurance – the forgotten tax

National Insurance (NI) is one of the most important, overlooked, taxes for most working people. In context, for an employee earning between £12,500 and £50,000 per year, for every extra £1 they receive in net pay, the Treasury receives 67.35p (29.41p in Income Tax...

The Budget

Back on 11th March 2020, we had Rishi Sunak’s first budget. The tax changes were soon overshadowed by the Coronavirus pandemic and the Government measures used to support employees and businesses. Below i have explained some of these tax changes: Delay of IR35 in the...

The tax timetable for electric cars

Electric cars are now tax efficient again! After initially being very tax efficient, recent Governments have been making electric cars less tax efficient. The benefit-in-kind taxable percentages rose from 5% in 2015/16 to 16% in 2019/20.  So, for 2019/20, a...

How does paying dividends reduce my Company’s tax bill?

It doesn’t.  A Company pays Corporation Tax on its profits before dividends are paid out.  Consequently, shareholders are treated as having already paid tax on their dividends (called a ‘tax credit’). A shareholder who is paying Higher Rate Tax will have the dividends...

What lawyers can miss when handling taxes on sales of property

  With shared ownership properties, even though property lawyers generally know about taxes associated with transfers and sales of property, I have come across a couple of instances where they have misadvised their clients. when a property is owned by a couple...