by admin | May 21, 2026 | Uncategorized
The freezing of tax thresholds can result in a phenomenon commonly referred to as 'fiscal drag'. This occurs when tax allowances and rate bands remain unchanged while wages and inflation increase. As earnings rise, more taxpayers are ‘dragged’ into...
by admin | May 21, 2026 | Uncategorized
When renting out property, landlords may have both Income Tax and National Insurance considerations to consider. However, rental income is generally taxable. For individuals, the first £1,000 of rental income is tax-free under the property allowance. Where...
by admin | May 21, 2026 | Uncategorized
The VAT Cash Accounting Scheme can help businesses improve cash flow by allowing VAT to be accounted for when customers actually pay invoices, rather than when invoices are issued. This can be particularly beneficial for businesses that offer credit terms or...
by admin | May 21, 2026 | Uncategorized
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced 18% rate (2026-27) of Capital Gains Tax (CGT) applies. To...
by admin | May 18, 2026 | Uncategorized
Taking on your first employee can help a business grow, although it also brings a number of important responsibilities. Before employing staff for the first time, business owners should consider the following points: Register as an employer with HM Revenue and Customs...
