Striking the perfect balance: Director’s salary and dividends for 2023/24
9 May 2023
As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to be as tax efficient as possible. The 2023/24 tax year presents an array
683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen
9 May 2023
The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in excess of £50,000. The tax charges equate to the following:
Landlords are latest group targeted by HMRC ‘nudge’ letters
9 May 2023
Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from HMRC to remind landlords of their obligation to declare their
What is the Residence Nil-Band Rate? And why does it matter to you?
9 May 2023
The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of families around the UK have benefitted from its ability to
Fiscal drag bites on earners
9 May 2023
Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax brackets due to wage increases as they
Changes to the repayment of Student Loans begin in August
9 May 2023
The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay their loan when they earn an annual salary of £27,295
P11D – Are you ready to report and pay tax on Benefits in Kind?
9 May 2023
Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private Healthcare Loans Company cars Loans Gym memberships And much more. The above are
UK Corporation Tax for start-ups: what you need to know
5 May 2023
Corporation Tax is a critical element that start-ups need to be aware of when starting their new venture.
Changes to the Seed Enterprise Investment Scheme (SEIS)
3 May 2023
The UK has long been a hub for budding entrepreneurs and start-ups, with innovative ideas and new businesses emerging every day.
Taxes you should know before starting a business
27 Apr 2023
Starting a business is an exciting venture for aspiring entrepreneurs, and it is important that you become well-versed in all things tax.
