Use up your tax allowances early in the tax year

Use up your tax allowances early in the tax year

If you are always racing to use up your tax allowances, such as Individual Savings Accounts (ISAs), you are not alone at the last minute before the end of April 5. But you could be making a big mistake. When it comes to mopping up tax allowances, it is best to use...
Super Deduction

Super Deduction

For expenditure incurred from 1 April 2021 until the end of March 2023. Which offers 130% first-year relief on qualifying main rate plant and machinery investments until 31 March 2023 for companies What are capital allowances? Capital allowances let taxpayers write...
What is the optimal salary level?

What is the optimal salary level?

Optimal Salary Level When deciding on what level of salary to pay, it is important to remember that while there are some general rules, there is no “one size fits all”. Assuming that the director’s personal allowance is available and not otherwise...
How are employees taxed on benefits-in-kind?

How are employees taxed on benefits-in-kind?

Employees in the UK are chargeable to income tax on their net taxable earnings. These earnings are made up of the employees’ cash earnings, such as their salaries, wages and any bonuses, as well as any benefits-in-kind they might receive. Benefits-in-kind is non-cash...