By April 2021 there were 2,333 buy-to-let mortgage products on offer - more than at any point since the start of the pandemic. Also, in the three months to 31 May 2021, the average interest rates for residential landlords had [...]
For five years from 6 April 2010, providing a zero-emission electric company car was tax-free to the employee but this failed to generate any big take-up, potentially due to the lack of car choice and supporting infrastructure. However, electric cars [...]
VAT is a business tax on the supply of goods and services. It is charged at varying rates depending on what is being supplied, who it is being supplied to and where it is being supplied to. But with Brexit, [...]
If you’re self-employed, your business will rack up various running costs throughout 2021/22. Some of those you’re able to deduct as allowable expenses. By deducting these allowable expenses as part of calculating your business’s taxable profits, it’s possible for us [...]
Owning and letting out a holiday home, otherwise known as a furnished holiday let (FHL), has always been a popular way of investing and earning income. Not only do FHLs enjoy many tax advantages over normal residential let properties, owners [...]
Traditionally, most people get nowhere near breaching the pensions lifetime allowance, but that’s likely to change over the next five years. The lifetime pensions allowance is currently £1,073,100. In his Spring Budget, however, Chancellor Rishi Sunak revealed that this would [...]
In the Spring Budget 2021, Chancellor Rishi Sunak announced that the UK's main rate would increase to 25% (for profits over £250,000) from April 2023, at the same time as a separate small-profits rate of 19% (for profits of £50,000 [...]
If there's one thing to take away from the Spring Budget 2021, it's taking charge of your personal finances. This is going to be increasingly important over the next five years. So, what's changing for the new tax year? Not [...]
A recent report by the Institute for Fiscal Studies (IFS) argued that the tax system, and especially the different NICs rates, tend to favour self-employment while discouraging employment. Historically, self-employed people have paid lower NICs because they were eligible for [...]
From 6 April 2021, organisations that engage contractors through personal service companies or other intermediaries, such as partnerships or limited liability partnerships, will need to assess whether the rules apply to contracts they enter into. The rules will affect medium [...]
