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Rent-a-Room Scheme

Rent-a-Room Scheme

Do you let out a room in your home to a lodger ? The rent-a-room scheme is a set of special tax rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. The relief only...
Selling a 2nd property ? – Tax changes are coming

Selling a 2nd property ? – Tax changes are coming

The current delay between making a capital gain on property and paying the Capital Gains Tax (CGT) due can be as much as 22 months. For example, the CGT arising from a gain made by a UK resident individual on 6 April 2019 will be payable by 31 January 2021. But that...
Don’t miss out on the Marriage Allowance

Don’t miss out on the Marriage Allowance

Did you know that if you are married you can transfer £1,250 of your Personal Tax Allowance to your husband, wife or civil partner. This is called the Marriage Allowance and would enable them to reduce their tax by up to £250 every tax year.  To benefit as a couple...
Working from Home ?

Working from Home ?

If you are self employed then you already know what a necessary pain it is to keep a record of all your expenses. If you spend any of your time working from home, and who doesn’t, even if it is to maintain your records, then you would probably expect to be able to...
HMRC and the Staff Christmas party

HMRC and the Staff Christmas party

  It’s the time of year that businesses are planning the staff Christmas party for staff, their partners/spouses, clients and possible new clients. The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes...
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