by admin | Jun 17, 2020 | Income Tax |
There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their share of trading losses in any partnerships. For the 2019-20...
by admin | Jun 10, 2020 | Income Tax |
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below then you can get a £1,000 allowance for each. The £1,000 exemptions from tax apply to: If you make up...
by admin | May 27, 2020 | Income Tax |
HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic. Employers, directors and employees have several options to support a...
by admin | May 20, 2020 | Income Tax |
Employees who need to buy substantial equipment to use as part of their employment may be able to claim tax relief based on the initial cost. In most cases you can claim tax relief on the full cost of this type of equipment as it usually qualifies for a type of...
by admin | May 13, 2020 | Income Tax |
If you lost your job after 28 February 2020, your previous employer could have agreed to re-hire you and then place you on furlough. However, there is no compulsion on the part of your ex-employer to do this and many firms have been reluctant to make such a move....
by admin | Apr 22, 2020 | Income Tax |
If you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when your income begins to exceed the annual threshold. The annual threshold amounts...
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