Associated company rules
21st July 2021 Posted by - Alexander Accountancy
As announced in the Budget earlier this year there will be two rates of Corporation Tax from 1 April 2023. When the new rules take effect, taxable profits up £50,000 […]
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Reporting foreign income for UK tax purposes
16th July 2021 Posted by - Alexander Accountancy
Income Tax is generally payable on taxable income received by individuals including earnings from employment, earnings from self-employment, pensions income, interest on most savings, dividend income, rental income and trust […]
CGT on second property sales – 30 day rule
12th July 2021 Posted by - Alexander Accountancy
The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed with effect from 6 April 2020. This change means that any CGT […]
Off-payroll working rules best practice
7th July 2021 Posted by - Alexander Accountancy
The rules for individuals providing services to certain private sector organisations via an intermediary such as a personal service company (PSC) changed from 6 April 2021. The new rules mean […]
What is net income for pension relief purposes?
30th June 2021 Posted by - Alexander Accountancy
The lifetime allowance is the maximum amount of pension and/or lump sum that benefits from tax relief. The lifetime allowance is currently set at £1,073,100. The annual allowance for tax […]
Who can use the VAT retail schemes?
21st June 2021 Posted by - Alexander Accountancy
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low […]
Pre-trading expenditure
11th June 2021 Posted by - Alexander Accountancy
There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. These could include expenses that are required to help a business prepare for trading such […]
Cash basis for landlords
10th June 2021 Posted by - Alexander Accountancy
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. Landlords can use the cash basis when recording income and […]
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