Category Archives: Tax Allowance

Tax when you sell an asset

3rd June 2021 Posted by -

There are special rules that must be followed when you sell an asset on which capital allowances have been claimed. Capital allowances is the term

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How to claim tax relief on employment expenses

9th June 2021 Posted by -

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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Mobile phone exempt costs

11th May 2021 Posted by -

When an employee incurs costs for the provision of mobile phones to employees it is important to understand the correct tax treatment of these

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Tax accountants Burton on Trent

Tax Free Capital Gains

5th May 2021 Posted by -

As with Income Tax personal allowances, taxpayers have an annual exempt amount for Capital Gains Tax (CGT) which is forfeited if not used. The annual exemption for individuals in 2021-22 […]

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A reminder that not all costs are costs

30th April 2021 Posted by -

Costs are defined as something that has to be paid or spent to acquire something. Costs include the acquisition of: An object, say material

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Companies can claim super-deduction from 1 April

13th April 2021 Posted by -

The new super-deduction tax break, that will allow companies to deduct 130% of the cost of any qualifying investment from their taxable profits, is

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OTS recommended changes to IHT

7th April 2021 Posted by -

The Financial Secretary to the Treasury has written to the Office of Tax Simplification (OTS) to confirm that HM Treasury strongly supports some key

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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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