Category Archives: Income Tax

The rent-a-room scheme - alexander accountancy Burton on Trent

Rent-a-room: letting as office accommodation

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place […]

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Reporting foreign income for UK tax purposes - tax advice Burton on Trent

Reporting foreign income for UK tax purposes

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 […]

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Are you a landlord that owes tax to HMRC? Alexander Accountancy Burton on Trent

Are you a landlord that owes tax to HMRC?

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to

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How are dividends taxed?

The dividend tax allowance was first introduced back in 2016 and replaced the old dividend tax credit with an annual £5,000 dividend allowance with

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How to claim tax relief on employment expenses

If you are an employee that needs to buy substantial equipment to use as part of your employment you may be able to claim tax relief. In most cases

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Taking money out of a limited company

There are a number of ways a director can extract money from their limited company. The money can usually be withdrawn in one or more of the

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5% late penalties apply from 1 April 2021

Self-Assessment taxpayers that failed to pay their outstanding tax liabilities or set up a payment plan by midnight on 1 April 2021 will be charged a

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Calculating Minimum Wage if paid annual salary

New National Minimum Wage and National Living Wage rates will come into effect on 1 April 2021. These changes will see the National Living Wage

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