2024 - Page 23 of 44

20 Jun 24

Reclaiming pre-trading VAT

There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are

20 Jun 24

Post cessation transactions

Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible

20 Jun 24

Tax relief for training costs

If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit. As a general rule you can claim for

20 Jun 24

Tax and employee share schemes

There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes vary but they are all designed to help incentivise

20 Jun 24

Connected persons for tax purposes

The definition of a connected person for tax purposes varies. A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of

20 Jun 24

Is your income over £100,000?

If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that

17 Jun 24

Child Benefit for 16 – 19 year olds

More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their education or training after their GCSEs. HM Revenue and

17 Jun 24

Are we unpaid tax collectors?

Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they are registered for VAT or not. If you are not registered

13 Jun 24

Non-resident UK property sales

There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed to report and pay any non-resident Capital Gains Tax (CGT)

13 Jun 24

Self-assessment payments on account

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account are due on 31 January during

Year: 2024

Reclaiming pre-trading VAT

Post cessation transactions

Tax relief for training costs

Tax and employee share schemes

Connected persons for tax purposes

Is your income over £100,000?

Child Benefit for 16 – 19 year olds

Are we unpaid tax collectors?

Non-resident UK property sales

Self-assessment payments on account

Statutory Redundancy rights

Tax relief for landlords replacing domestic items

Tax and employee suggestion schemes

SJPR