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 [...]
Definition of Chartered Accountant Chartered accountant is an international accounting title fixed for accounting professionals in several countries in the world. The holder of this designation proves that he is qualified to file a business’s tax returns, audit financial statements, and supervise business practices and offer consultative services to his/her clients. [...]
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