Category Archives: Personal Tax

Could You Be Due a Christmas Bonus from HMRC?

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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preparing for a tax inspectionThe most wonderful time of the year could be made even more wonderful for some with a Christmas bonus from HMRC. Millions of workers across the UK that work in the service industry and are paid through PAYE could be eligible to claim tax rebates on their expenses.

Find out more about the eligibility criteria and how to check if you can claim the bonus in time for Christmas.

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A Landlord’s Guide to the HMRC Let Property Campaign

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Whether you are a landlord of a large property portfolio, or you just let a single property to a tenant; you must pay tax on your rental income.

The ‘Let Property Campaign’, is a Government initiative that was launched in 2013 with the aim of giving landlords the opportunity to get their taxes up to date through voluntary disclosure.

As the campaign launched, it was estimated that 1 in 3 landlords were not declaring rental income.

Find out more about the Let Property Campaign and how it affects you as a landlord.

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Understanding Your Pay Slip – Tax Codes Explained

Megan

Megan

As well as having Payroll experience, Meg is our main point of contact for auto-enrolment setup. Now a qualified member of AAT, Meg is building her portfolio of accounting clients in a variety of sectors.
Megan

Money from a payslipIf you are an employee or worker, you will be on a PAYE (pay as you earn) tax system, meaning tax is deducted straight from your salary – unlike the self-employed, who have to calculate and pay their own tax.

For many, this ease of use means that tax codes and deducted earning are rarely checked, which could result in over taxation.

In this blog post, we’ll cover how to find your tax code, what it means and what to do if you think you are being over taxed.

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What You Need to Know About Personal Capital Gains Tax

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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CGT Tax PlanningIf you own a property asset or a second home and decide you want to sell it, be mindful that if it has increased in value since you acquired it – you will be susceptible to tax on the ‘capital gain’ (profit) made on the sale of that asset. Capital gains tax is also applicable to possessions like antiques or art, not just properties.

The rate of capital gains tax due has been reduced significantly from the last tax year, read below to find out more about what capital gains tax is and how it affects you.

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