Buy To Let property expenses

Some accounting tips

Expenses and benefit returns for 2020/21

Expenses and benefit returns for 2020/21

Don’t miss the filing deadline for your P11D form or you might get a penalty! A form P11D must be filed for every employee who has been provided with taxable benefits and/or expenses in the 2020/21 tax year which have not been payrolled or included in a PAYE settlement agreement.

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Negligible value claim

Making a negligible value claim

If you have a worthless asset, for example shares in a company that has gone into liquidation, it may be possible to make a negligible value claim to reduce your capital gains tax liability in future. Read on below.

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NIC and company directors

NIC and company directors

Did you know that special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities? You can also choose how and when they are paid. Our short article explains the basics.
#NationalInsurance #Director

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Amend your PSA for Covid-19 related benefits

Amend your PSA for Covid-19 related benefits

A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. Do you need to amend or set up a PSA to take advantage of the Covid-19 exemptions available? Head to our blog to find out.

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Extracting Profits from property company

Extracting profits from a property company

Today’s blog covers the best ways to extract profits from a property company this tax year. If you need to utilise the profits outside of your property company it is wise to plan this in advance to make sure you are being as tax efficient as possible.
#Landlord #TaxPlanning #PropertyInvestor

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Reduced rate of VAT

Reduced rate of VAT

The reduced rate of VAT has been extended until 31 March 2022. Will this benefit your business? Leave a comment to let us know what you think.
#Hospitality #Entertainment

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Reporting Expenses & Benefits

Reporting expenses and benefits for 2020/21

If you’ve provided taxable benefits and expenses to your employees this year you will need to let HMRC know by 6 July 2021. Some benefits are exempt, and there are a number of temporary Covid-19 specific exemptions that apply for the 2020/21 tax year. Read more below.
#BusinessTax

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