by Paul Whyatt | Mar 10, 2023 | Personal Tax, Taxation
The annual capital gains exemption (currently £12,300) may cover most of the capital gains that you make on your share portfolio. However, that exemption will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024. If you are planning to make large capital gains in...
by Paul Whyatt | Mar 6, 2023 | Business Advice, Business Tax, Personal Tax, Taxation
Owners and directors of family businesses often take a small salary from the company and any extra funds as dividends. Other family members may also hold shares in the company and receive a dividend each year. Currently, the first £2,000 of dividends received by each...
by Paul Whyatt | Mar 6, 2023 | News, Personal Tax, Taxation
Do you know whether your national insurance contributions (NIC) record is complete and correct? You can check your NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate of the...
by Paul Whyatt | Oct 10, 2022 | Business Advice, Business Tax, Personal Tax, Taxation
Many employers will advance modest loans to employees to meet upfront costs which they necessarily incur to enable them to work, such as the cost of a travel season ticket or a deposit for childcare costs. Such loans can also be provided to help towards other...
by Paul Whyatt | Oct 4, 2022 | Business Tax, News, Personal Tax, Taxation
In his recent mini-budget, the Chancellor said that he will abolish the hugely complicated off-payroll working rules from 6 April 2023. These rules require large businesses and public sector bodies to decide whether the contractors that they engage act as employees...
by Paul Whyatt | Jul 28, 2022 | Personal Tax
A surprising number of people don’t know that they have an online HMRC personal tax account (PTA). Your PTA is a useful source of information about your personal tax position and allows you to communicate with HMRC quickly and easily. For example, you can check your...
