Changes to the minimum wage
From 1 October 2014, there have been changes to the set National Minimum Wage. For workers over 21, the hourly rate has been increased to £6.50 an hour.
Tax relief for Capital and Revenue expenses – explained
Medical and practice equipment, motor vehicles, fixtures and fittings and IT equipment may not get offset directly against your income as tax relief in the year of purchase.
PAYE: Are you due a refund?
By now, you and any employees should have received a tax refund from HMRC for any overpayments in PAYE tax last year. Reconciliations began in June and were expected to end in mid September.
The latest car fuel rates
From 1 September 2014, HMRC advisory fuel rates have changed. For 1 month either side, employers may use the old rate or the new rate, whichever they prefer. So, what are the new rates?
IHT: Clampdown by HMRC on IHT avoidance
HMRC are taking serious measures to ensure that new tax avoidance schemes relating to Inheritance tax are nipped in the bud.
CGT: Practical points around private residence relief (PRR)
Just by occupying a property for a period of time, may not be enough to qualify it as your private residence.
PAYE: Was there an over or under payment on your payroll?
HMRC have completed their annual payroll reconciliations that involve issuing refunds or requesting tax underpayments. Are you due a refund?
PROPERTY: What can you claim against your rental income?
What can you claim against your rental property income to maximise tax relief? Are you allocating costs correctly as “capital” or “expenditure”?
