Builders & Contractors 2/2

Dec 30, 20206 min

Unpaid tax bills: Easing the burden

This article explores the options available for those struggling to pay their tax bills. The Covid-19 pandemic has caused financial...

Dec 25, 20193 min

Getting ready for MTD for VAT

The start date for Making Tax Digital (MTD) for VAT is fast approaching – from the start of your first VAT accounting period beginning on...

Dec 25, 20192 min

Subsistence expenses – using the benchmark scale rate

The option to pay employees flat rate subsistence expenses tax-free can be an attractive one; the employees are clear on what expenses...

Dec 25, 20192 min

Claim a deduction for pre-trading expenses

As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for...

Dec 25, 20192 min

Private lettings relief

Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main...

Dec 25, 20192 min

Claim a deduction for work clothing

Many employees are required to wear a uniform for work. Even where there is no set uniform as such, many employees have clothes that they...

Dec 25, 20192 min

Tax-free mileage allowances

Employees often use their own cars for work, usually claiming expenses in the form of a mileage allowance to cover the costs. While it is...

Dec 25, 20192 min

Beware tax scams

HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they...

Dec 25, 20192 min

Making money from your spare room

Under the rent-a-room scheme, it is possible to earn tax-free income from letting out a furnished room in your own home to a lodger. You...