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Tax, reliefs and allowances on different types of property income

There are many ways to earn an income from property such as residential properties, furnished holiday lettings, commercial properties and renting out a room in your house. The exact tax treatment and allowable expenses will differ depending on the type of property you own and your level of income. In most circumstances income from property […]


How and when to complete your self-assessment tax return

HMRC uses self-assessment to collect tax from individuals who run their own businesses or if they receive income that is not taxed through PAYE. The individuals who have to submit a self-assessment tax return fall into a number of diverse circumstances including: being self-employed having savings or investment income above £10,000 before tax receiving £2,500 […]


Download our full guide to the Autumn Statement 2016

The first major economic statement since the EU referendum focused on measures to “prepare our economy to be resilient as we exit the EU”. Unsurprisingly, the Ofice for Budget Responsibility (OBR) forecasts for growth Unsurprisingly, the Office for Budget Responsibility (OBR) forecasts for growth have changed since the last figures were published in March. The […]


Inheritance tax and the residence nil-rate band

A detailed guide to the residence nil-rate band for inheritance tax. The rise in property prices throughout the UK means that even those with modest assets may find that their estate exceeds the £325,000 nil-rate band for inheritance tax (IHT). The percentage of properties sold for more than £325,000 has doubled since the current nil-rate […]


What to consider when starting a business

Last year 608,110 businesses were incorporated according to data from Companies House. This is a year-on-year increase of 26,937 on the 581,173 businesses started in 2014. However, figures from the Office for National Statistics show that 55% of new businesses fail within 5 years. In order to avoid becoming part of this statistic, it is […]


Employee benefits and rewarding staff

A guide to rewarding your staff and the tax treatment of employee benefits. Many of us do not really think about the commitment that employees make to their employers in terms of time. The average 9 – 5 worker with their 5.6 weeks of statutory holiday is likely to work around 1,880 hours a year. […]


National insurance planning

An overview of the types of national insurance and advice on how to make sure you don’t pay too much. Since its introduction in 1911, national insurance (NI) has changed from a form of protection against ill-health and unemployment to include a wider range of benefits. Today it helps people build entitlement to the state […]


Personal financial planning

No one should be without a financial plan. Read our guide to get started. Achieving your financial goals is made harder when you don’t have a plan laid out on paper. Without a timescale, a sense of priority and an idea of how you will use your money in the future, how can you be […]