Category Archives: Income Tax

What is rent a room relief

23rd March 2021 Posted by -

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

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Tax-free property and trading income

22nd March 2021 Posted by -

Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both or either type of income

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Capital allowances tax advice Burton on Trent Alexander Accountancy

Spring Budget 2021 – Capital allowances

10th March 2021 Posted by -

Designed to help offset the increased Corporation Tax main rate and promote investment, the Chancellor announced the introduction of a new ground breaking super-deduction tax relief. The new temporary tax […]

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Spring Budget 2021 – Income Tax Rates & Allowances

8th March 2021 Posted by -

It has been confirmed as part of the Budget announcements that the 2021-22 personal allowance will increase to £12,570 (2020-21: £12,500) and the

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Marriage Allowance tax break

23rd February 2021 Posted by -

If you are entitled to the marriage allowance and have not yet applied, then you could receive a payment of up to £1,188 from HMRC. HMRC used the

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Accounts and tax for companies

11th February 2021 Posted by -

If you have recently setup a new limited company or are thinking of doing so then one of the areas that you need to be aware is the accounts and tax

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Did you miss the Self-Assessment deadline?

4th February 2021 Posted by -

HMRC has announced that more than 10.7 million people submitted their 2019-20 Self-Assessment tax returns by the 31 January deadline. This leaves over

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Keeping pay and tax records

12th February 2021 Posted by -

Following the 31 January 2021 deadline for submission of Self-Assessment tax returns for 2019-20, it can be a useful exercise to review the rules for

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