Tax Advice

Tax changes kicking in from 6 April. By the time you’re reading this, the new tax year is either just about to start or has already started. Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country continues to face a cost-of-living… Continue reading Personal tax changes for 2022/23

Cryptocurrencies continue to become more mainstream, and the taxman’s very aware of the gains investors have made in the last five or six years.  Back in 2009, investors could snap up one Bitcoin for $1. Fast forward to January 2022 and it would cost $47,000 (£34,700) per Bitcoin – down from a November 2021 peak… Continue reading Cryptoassets – how are they taxed in 2022

We may only be three months into 2022 but plenty of big employers – both here in the UK and overseas – are making employees redundant for a myriad of reasons.  OVO Energy is reportedly trying to control costs by cutting 1,700 jobs as gas market prices soar to record highs, Tesco is in the… Continue reading How redundancy payments are taxed

Tax Card 2022/23

Throughout 2021/22, COVID-19 has continued to dominate. Millions of employees and directors on payroll were furloughed, and the self-employed continued to rely on grants available via the income support schemes. Arranging your financial affairs as tax-efficiently as possible before the start of the new tax year on 6 April 2022 is arguably more important than… Continue reading Year-end tax guide 2021/22

Once you’ve set up an incorporated business and become a director, you have to be smart about how you extract profit to avoid paying more tax than you need to.  There are three main routes for a director to extract profits from their own limited company – salary, dividends and pension contributions. Usually, combining these… Continue reading How to extract profits out of a company…..

If you’re looking to join the 4.3 million people in the UK who made the jump into self-employment, you might be wondering how to start your new business.  Assuming you’ve weighed up the pros and cons involved and decided launching a startup is right for you, one of the first things to consider is how… Continue reading How to structure your business….

HMRC issues last reminder for 2020/21 personal tax returns  Some 407,510 startups were created during the 2020/21 tax year, despite the challenges presented by the pandemic.  Those who are unincorporated require a unique taxpayer (UTR) code to file their first tax returns via self-assessment for the 2020/21 tax year. But the tax authority is experiencing… Continue reading HMRC is reminding taxpayers that the deadline to submit 2020/21 personal tax returns through self-assessment is on or before midnight on 31 January 2022.

The construction industry remains one of the UK’s key sectors, which also helps to underpin the UK economy, despite experiencing the effects of the COVID-19 pandemic.  In September 2021, construction output grew by 1.3% on the previous month – placing the sector just 1% below its pre-pandemic level – and it’s still worth a decent… Continue reading The construction industry scheme minefield…..