by Ruth Clark | Apr 1, 2022 | HMRC, Tax
For expenditure incurred from 1 April 2021 until the end of March 2023. Which offers 130% first-year relief on qualifying main rate plant and machinery investments until 31 March 2023 for companies What are capital allowances? Capital allowances let taxpayers write...
by Ruth Clark | Mar 14, 2022 | HMRC, Tax
Making tax digital (MTD) represents a major change to how most people will manage their business tax and financial affairs. It will not have touched very many property investment businesses yet, but this will change for more landlords broadly within the next couple of...
by Ruth Clark | Jan 24, 2022 | Tax
Optimal Salary Level When deciding on what level of salary to pay, it is important to remember that while there are some general rules, there is no “one size fits all”. Assuming that the director’s personal allowance is available and not otherwise...
by Ruth Clark | Jan 7, 2022 | Tax
Employees in the UK are chargeable to income tax on their net taxable earnings. These earnings are made up of the employees’ cash earnings, such as their salaries, wages and any bonuses, as well as any benefits-in-kind they might receive. Benefits-in-kind is non-cash...
by Ruth Clark | Dec 17, 2021 | Tax
Revenue expenditure Broadly, revenue expenditure is incurred in the day-to-day running of the business. In the property business, the landlord may typically incur the following items of revenue expenditure: • Accountancy fees. • Advertising for tenants. • Cleaning. •...
by Ruth Clark | Dec 17, 2021 | Tax
Tax-free profit extraction It becomes quite interesting (to put it mildly) to consider ways of taking money out, not just tax-efficiently, but even tax-free. What follows is a selection of some of the most effective tax-free profit extraction techniques. Share capital...
