Category Archives: Uncategorized

Tax-free gains 2019-20

There are still a number of sales (disposals) that a UK taxpayer can make that will not incur a charge to the UK’s Capital Gains Tax. For most of us they are limited in extent, after all legislators have had plenty of time to close any favourable loop-holes.

For most of us, the major tax-free gain...

Read more

HMRC and the National Minimum Wage rates

Readers are reminded that from 1 April 2019, the National Living Wage (NLW) and National Minimum Wage (NMW) hourly rates increased to:

  • 25 and over - £8.21
  • 21 to 24 - £7.70
  • 18-20 - £6.15
  • Under 18 £4.35
  • Apprentices £3.90

Workers who are entitled to receive these rates as a minimum include:

  • part-time
  • casual labourers, for example someone hired for one day
  • agency workers
  • workers...
Read more

Landlords faced with another tax hit next year

From April 2020, HMRC are changing two important tax concessions that apply to landlords letting property that they as owners have previously occupied at some point as their home (Principal Private Residence (PPR)).

The first is the reduction of the present rule that exempts the final 18 months of ownership from any Capital Gains Tax (CGT)...

Read more

Employers what is Class 1a NIC?

If you have employees, and if one or more of those employees benefit from the use of facilities that you provide, cheap loans, a company car for example, it is well known that you as their employer will need to inform HMRC of the amount of these benefits following the end of the tax year.

Employers...

Read more