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Claiming tax relief on business insurance

Claiming tax relief on business insurance

If you are self-employed, you may be able to claim tax relief on certain business insurance costs as an allowable expense. This means the cost can be deducted when calculating your taxable profits, reducing the amount of tax you may need to pay. The insurance must...
Has a pay rise quietly increased your tax bill?

Has a pay rise quietly increased your tax bill?

Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more money in their pocket. The reason is a process known as fiscal drag....
Could new VAT rules change how you sell online?

Could new VAT rules change how you sell online?

The Government has launched a consultation on proposals that could significantly change the way VAT is collected on goods sold through online marketplaces. Although the changes are not yet law, they could affect thousands of UK businesses that use online platforms to...
Could you claim tax relief for property repairs?

Could you claim tax relief for property repairs?

Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income. You can generally claim tax relief for repairs carried out on a property business, provided the cost relates to...