CLAIMING VAT ON BUILDING A NEW HOME You can ask your builder to charge you zero VAT rate, or you can apply for VAT refund on building materials and services if you are. Building a new home or converting one. Building a property for non-profit or for a charity To claim [...]
PRIVATE PENSION CONTRIBUTION FOR DIRECTOR – WHAT MATTERS? A thoughtful consideration is just needed for your pension account as well keeping in mind the most tax-efficient ways available. Private pension contributions are usually tax-free up to certain limits and extend to: Workplace pensions Personal and stakeholder pensions Overseas pension schemes that [...]
IR35 and off-payroll working. What to do from 6 April 2021 if you provide services through an intermediary Before the 6th of April 2021, people who provide their services to a private companies through their Ltd company need to consider whether they are affected by IR35 rules or not. This will [...]
Tax rules on Electric cars from April 2021 are changing. For 2020/21, it had been possible to enjoy an electric company car as a tax-free benefit. While this may not be the case for 2021/22, electric and low emission cars remain a tax-efficient benefit. Taxation of electric cars Under the current [...]
SALARY SACRIFICE – EXEMPTIONS AND LIMITATIONS Prior to 6 April 2017, salary sacrifice schemes or “optional remuneration arrangements” as described in the Finance Act 2017, were used to be a great option for reducing tax implications. However, after the new regulations put forth by HMRC, only a handful of benefits are [...]
HIGH INCOME CHILD BENEFIT CHARGE (HICBC) EXPLAINED High income child benefit charge (HICBC) laid down tax implication to households who receive Child Benefit where the adjusted net income of a taxpayer goes over £50,000 and either: person or his/her partner get child benefit someone else gets Child Benefit for a child [...]
To discuss how Accountants in Slough can assist you with your Accounts Preparation, please contact us for a free, no obligation consultation on: 01753 373 505 or complete our Contact form and we will get back to you.