2023 - Page 10 of 18

09 Oct 23

Bank deposits covered by FSCS

Your eligible deposits with all High Street bank are covered by the Financial Services Compensation Scheme (FSCS). The present limit of this FSCS guarantee is £85,000 and this

05 Oct 23

Reporting self-employed profits 2023-24

The basis of assessment reforms will change the way trading income is allocated to tax years. The changes will affect sole traders and partnerships that use an accounting date

05 Oct 23

Transferring IHT unused nil rate band

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a

05 Oct 23

When you can and cannot use the Rent-a-Room Scheme

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

05 Oct 23

Paying tax by Certificate of Tax Deposit

The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the

05 Oct 23

Income Tax in Scotland if you have more than one home

There is an interesting anomaly that can affect taxpayers with homes in Scotland and other parts of the UK. Where this is the case, the question arises as to whether or not the

05 Oct 23

CIS contractors monthly tax chores

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction

03 Oct 23

National Living Wage potential boost

The government looks likely to accept the recommendations of the Low Pay Commission with a boost to the National Living Wage rate. In summary: National Living Wage will rise to

03 Oct 23

Government to support action against late payers

Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms. These demands take entrepreneurs away from their core tasks of

28 Sep 23

Replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental

Year: 2023

Bank deposits covered by FSCS

Reporting self-employed profits 2023-24

Transferring IHT unused nil rate band

When you can and cannot use the Rent-a-Room Scheme

Paying tax by Certificate of Tax Deposit

Income Tax in Scotland if you have more than one home

CIS contractors monthly tax chores

National Living Wage potential boost

Government to support action against late payers

Replacement of domestic items relief

Statutory Redundancy rights

Tax relief for landlords replacing domestic items

Tax and employee suggestion schemes

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