The final deadline for making a claim under the 5th Self-Employment Income Support Scheme (SEISS) is 30 September 2021. The SEIS scheme is only open to those self-employed with annual profits of less than £50,000 and who receive at least half … Continue reading Final Call For SEISS Claims
We have previously mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses … Continue reading Self-Employed To Suffer BIG Tax Bills in 2022/2023
HMRC has confirmed that almost 1.8m couples across the UK have benefitted from the marriage allowance and are saving up to £252 a year. The marriage allowance is available to qualifying married couples and those in a civil partnership where a spouse … Continue reading Are You Maximising Marriage Allowance?
If you are a landlord, it is important that you are aware of expenses you can and cannot claim from your rental income. As a rule, these expenses must be wholly and exclusively for the purposes of renting out the property in question. In some … Continue reading What Expenses Can Property Landlords Claim?
The division of tips/gratuities received by employees is often met with confusion around exactly WHO is liable for the relevant taxes and contributions. To assist business owners HMRC has published a booklet entitled ‘Tips, Gratuities, Service … Continue reading Guidance On Gratuities
This month we are focusing on: Inheritance and Property Tax And this week are looking at: Tax on Property – Capital Gains Tax (CGT) Capital gains tax (CGT) is payable when you sell an asset that has increased in value since you bought it. The rate … Continue reading Terrific Tuesday Tax Tip – Capital Gains Tax (CGT)
This month we are focusing on: Different Trading Vehicles to Consider for your business And this week are looking at: What are the requirements for a sole trader at year-end? Becoming a sole trader is the simplest way to get your new business off … Continue reading Terrific Tuesday Tax Tip – What are the requirements for a sole trader at year-end?
Launching Today the Self-Employment Income Support Scheme for Sole-traders and those in a Partnership whose business has been affected by coronavirus. This Scheme is designed to match the support being given to furloughed employees. Those able … Continue reading The Self Employed Income Support Scheme Launches Today!
During the Pandemic, access to and information on help for the self employed, and partnerships has been delayed and often unclear, with those affected waiting to hear when the scheme would be available and unable to contact HMRC for any information. … Continue reading Further Updates On The Self Employed Grant Scheme
Avanti share FAQs on the CJRS, from the information needed to claim to tax implications and NI deductions. What information is required to make a claim? To claim, you will need: your PAYE reference numberthe number of employees being … Continue reading Coronavirus Job Retention Scheme: FAQs
While the General election is dominating the headlines, political parties are promising big spends on all the usual political hotbeds – healthcare, education, defence etc, here Avanti explore how the funds will be raised from you, the Great British … Continue reading How Much Tax Are You Paying?
I have a company client and they have taken a number of loans in recent years that remain outstanding, business is improving and the company is going to start paying interest on those loans. They have a mixture of loans; one from the director, one … Continue reading Tax Question Of The Week – Duty To Deduct Tax