TAX
Are you fully Utilising your Dividends for Lowering your Tax Bill?
In tax world, we often look at whether people are fully utilising dividends to lower their tax bills. Funnily enough, in more cases than not, we find people aren’t!...
Payroll Management and Checking You’re Using the Right Tax Code!
Payroll management can be a complex and time-consuming task for many businesses. Time and again, one of the stumbling blocks we see is when the correct tax codes simply...
The 3% Stamp Duty Land Tax Surcharge
Have you been wondering about the 3% surcharge when it comes to Stamp Duty Land Tax? You wouldn’t be alone. It can be a tricky area to navigate at the best of times....
Double Tax Relief (Foreign tax credit relief)
If you are UK resident and are receiving income from another country, paying tax on this income overseas as well as in the UK, then you should be able to obtain double tax...
Understanding Partial Exemption for VAT
A Guide for Businesses Making Both Exempt and Taxable Supplies What are exempt supplies? And, more to the point, what are its implications on a VAT registered business that...
Changes to Option To Tax (OTT) procedures
As of 1 February, HMRC has changed its procedure for notifying an option to tax (OTT) on properties. The two stages to making a valid option remain the same: The decision to...
Do I need Personal Tax Advice?
When it comes to tax, the rules and regulations change all the time. So, it can be hard to know whether you are still compliant with the latest relevant laws and regulations....
How can I reduce my Inheritance Tax Liability?
Inheritance tax (IHT) can be a significant expense for many families when a loved one passes away. However, there are ways to mitigate exposure to IHT liabilities and ensure...
Are Dividends more Tax Efficient than Salaries?
Running your own business can be a rewarding experience but it also comes with a unique set of financial considerations. One of these is how to structure your income in the...
What are the three basic Tax Planning strategies?
Tax planning is an essential aspect of managing your finances. It’s responsible for ensuring that you are paying the correct amount of tax on your income and assets....
The Basics of Tax Planning
No one likes paying tax. But, sadly, it’s one of those facts of life that we all have to pay it at some time or other. We know from experience though that it can be a daunting...
Capital Gains Tax Annual Exemption
The annual exemption for capital gains tax purposes has been changed with effect from the 2023-24 tax year. The new annual exempt amount for individuals for the 2023-24 is...