Business guides and resources
Expert guides and advice to help you run your business
Maximising your tax allowances before 5th April 2022
As the end of the current financial tax year is fast approaching, we have prepared a short list of tasks you might want to review in order to maximise your tax allawance before 5th April 2022.
The National Minimum Wage and National Living Wage rates to increase from 1st April 2022
The National Living Wage and the National Minimum Wage will increase from the 1st April 2022.
If you are an employer, it is important to review the working hours and rate paid to staff, to ensure they do not fall below the new National Minimum Wage and the National Living Wage rates.
What is the Start Up Loans scheme and how does it work?
The Start Up Loans program was introduced to encourage entrepreneurship in the UK and provide easier financing access to new businesses.
For those eligible, this government-backed personal loan offers borrowing of up to £25,000 along with a repayment plan at a fixed interest rate of 6% per annum, over a period of 1-5 years.
Christmas Tax Exemptions – Virtual parties, Christmas gifts and Trivial Benefits
Christmas is fast approaching, and in the season of goodwill, you may be thinking of hosting a gathering or buying a few gifts for colleagues or customers. Here’s a quick reminder of the relevant tax relief rules, so you can be generous without running into trouble with HMRC.
How cryptocurrency is being taxed in the UK?
It is estimated that more than 3 million people in the UK currently own a cryptocurrency. Since 2008, over 9 million Brits were engaged in purchasing a crypto coins.
As digital currencies become increasingly popular with both individuals and businesses, one must be aware of the tax requirements involved with investing in cryptocurrencies.
In this article, we’ll explain in which circumstances cryptoassets are taxed in the UK.
Claiming for pre-trading expenses from your limited company
Starting a new business may involve some costs. You may need to pay for a number of products and services before your limited company is actually formed.
In this guide, James Leckie – who runs ITContracting.com – looks at some of the typical expenses you will incur prior to company formation, and explores the conditions you need to meet to reclaim such costs.
UK dividend tax rates and thresholds for 2021/22
If you’re setting up a limited company you’ll no longer be on someone else’s payroll, so you will need to understand how to extract money from your company.
In this article, we’ll explain how your dividend income and salary is calculated in relation to the 2021/22 dividend and tax allowance rate.
How to reduce your Capital Gains Tax bill?
It is quite common to assume that Capital Gains Tax (CGT) only affects professional investors or large corporations but that isn’t really the case.
CGT will normally be applied to gains made from the disposal of your personal assets. Whether it is a property you’ve recently sold or a profit made from your crypto assets, these gains could be liable to Capital Gains Tax.
In this guide, we’ll explain how Capital Gains Tax works and how you could potentially reduce your next tax bill.
Self-Assessment 2021 – Important Tax Rates and Deadlines Explained
With the deadline for submitting your Self-Assessment Tax Return just around the corner, it’s a good idea to start getting your finances in order so that you don’t have a last-minute panic.
It really doesn’t need to be this difficult, particularly if you keep your finances up-to-date throughout the year. Here we explain more about what’s involved.
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