The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the current tax year do no exceed £7,500. The tax
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for Self-assessment tax bills can be used to set up arrangements for paying tax
The annual exempt amount applicable to Capital Gains Tax (CGT) is to be halved from April 2024. This means that the exempt amount will be reduced from £6,000 currently, to £3,000 from April 2024. The exempt amount was as high as £12,300 2022-23.
Any
If you are concerned that an organisation is holding personal information you have a legal right to ask for a copy of the information that they hold about you.
If it is a public organisation, write to their Data Protection Officer (DPO). Their
Homes and businesses will be able to install rooftop solar panels more easily, under new rules that were recently announced.
Changes to permitted development rights rules will mean more homeowners and businesses will be able to install solar panels
The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were published earlier this year and have recently been
The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the tax measures announced in the recent Autumn Statement.
The Autumn
Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of poverty.
Pension Credit can top up:
your weekly income to £201.05 if you are
Employees who working from home may be able to claim tax relief for some of the bills they pay that are related to your work.
Employers may reimburse employees for the additional household expenses incurred if regularly working at home. The relief
The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is payable at the end of the
The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the accounting reference date. For example, many companies have a year-end date of 31 March and are
It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company.
Missing your filing deadline could affect your credit
Most dictionaries define “bottom line” as “the most important thing to consider”.
In financial circles it’s taken to mean a focus on profitability (the last line on a P&L accounts) or net worth (the bottom line of your
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced from the same date for companies with profits of up to £50,000 ensuring these
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees.
There will be a cut in the main rate of Employee National Insurance from 6 January 2024. This will see Class 1
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