Just a quick friendly reminder that very soon after Christmas comes – chucking out dying trees, returning unwanted gifts, decluttering baubles and… preparing for the 31st January tax deadline! While you’re taking time off work, this could be an ideal opportunity to get your paperwork in order.  I can do all of the organisation at.. read more →

HOW THE RESTRICTION OF RELIEF ON BTL MORTAGE INTEREST WILL AFFECT LANDLORDS By now I am sure you are all aware of the buy to let “bombshell” within the Chancellor’s Summer Budget – the proposal to allow income tax relief on BTL finance costs at the basic rate of tax only – but I thought.. read more →

A brief summary : From 6 April 2016: Rent-a-room relief to be raised to £7,500 The 10% wear and tear allowance may be reformed (subject to consultation) From 6 April 2017: Higher rate relief on mortgage interest will be restricted for buy-to-let landlords. Rent a room relief The applies to private landlords, the owners of.. read more →

The Summer Budget was surprisingly jam packed of tax and relief changes that will affect businesses, many in a positive way, however, on some changes the jury is still out. The following is just a brief overview of the main items that I believe will affect SMEs and is not meant to be a full.. read more →

HMRC has kindly published a list of the tax changes that affect individuals from 6th April 2015. I have reproduced the list below. Individuals over the age of 55 have flexible access to their defined contribution pension savings. The Income Tax Personal Allowance increases to £10,600. The higher rate Income Tax threshold increases to £42,385… read more →