Working from home

Working from home Over recent years, it has become increasingly popular for employers to allow their employees to work from home, and in doing so, pay an amount to cover any additional household costs incurred. What are the tax implications of such expenses for the...

Changes to National Insurance Reversed

Change to Class 4 NIC rate reversed The Government has confirmed that the proposed increase in the rate of Class 4 National Insurance Contributions, paid by the self-employed on profits from a business, will not now take effect from April 2018. The Chancellor of the...

Company Tax Losses Changed

Changes to company carry-forward of losses confirmed Initially announced at the time of the 2016 Budget and following a period of consultation, Finance Bill 2017 contains provisions to reform the tax treatment of certain types of carried-forward loss for corporation...

Company Salary v Dividend

Salary v dividend The questions surrounding the issue of how best to extract profits from a company in a tax-efficient manner remain as popular as ever. Despite the introduction of the dividend allowance, and the personal savings allowance, extraction by remuneration...
Sole Trader Business Tax Benefits

Sole Trader Business Tax Benefits

This helpsheet gives you an outline of what it means to work for yourself as a sole trader business. There are a number of benefits of being a sole trader business, but you must also comply with various regulations including the tax law. Form of Your Business When you...
Capital Expenditure or Repair – Property

Capital Expenditure or Repair – Property

Any business owner whose property includes a road, driveway, or parking area, will have to repair and renew those surfaces at some point. The question is whether to charge the costs to ‘repairs’ or to ‘capital expenditure’ in the accounts. This...