Factsheets

This factsheet covers business risks, sole traders, partnerships, limited liability partnerships, companies limited by guarantee and limited companies.

This factsheet covers when the cash basis may not be suitable for your business, who can and can’t use the cash basis, recording income and expenses, VAT registered businesses and micro-sized businesses.

This factsheet covers the loss of higher rate tax relief, wear and tear allowance exits, Making Tax Digital, changes to CGT from April 2020 and ideas to counter the changes.

This factsheet covers why tax planning is advisable, what does it involve and who will benefit, why one size to fit all does not work and planning to save tax.

This factsheet covers the types of income that is taxable, Income Tax bands across all four nations, Income Tax allowances, reducing your Income Tax liabilities, dividend income, married couples allowance, High Income Child Benefit Charge, the marginal rate of Income Tax, self-assessment and Making Tax Digital.

This factsheet covers the best way to extract funds from a company, taking a salary, tax-free benefits, dividends, interest on monies loaned, receiving rents for personal assets and the best overall extraction strategy.

This factsheet covers what is GDPR, why you should take it seriously, new obligations, lawfulness and consent and where to start.

This factsheet covers what AIA is, claiming AIA and selling the underlying asset, reducing your AIA claim, when is AIA not available, investment decisions and other issues to consider.

This factsheet covers the main advantages, scalability, costs, transferring existing records and the right software product to use.

There are generous tax benefits available if you pay into a private pension fund. You can claim tax relief for contributions made subject to the overriding limits listed below and benefit from tax relief at the highest rate of Income Tax you pay. This makes building a pension pot a very tax-efficient way to save for your retirement.

A factsheet covering second homes, letting out your home, the tax implications, IHT and planning points.

This factsheet covers rates for SDLT in England and Northern Ireland, Scottish LBTT and Welsh LTT, the types of properties that incur and do not incur these taxes and planning opportunities if you live or work in border areas.

This factsheet covers what counts as R&D if you qualify, what costs qualify for R&D relief, how much tax relief will a qualifying project attract and how do you claim the R&D relief.

This factsheet covers what a Personal Service Company is, the changes from April 2021, what happens if you are caught by the rules, can you challenge HMRC, how do the rules operate, partnerships and Managed Service and Umbrella Companies.

This factsheet covers what is domicile, what are tax treaties, what is the current position of non-doms and other considerations, RBC exemptions and any other UK taxes that affect non-doms.

This factsheet covers who qualifies for NMW or NLW, who is not entitled to the NMW or NLW, rates of NMW and NLW, company directors and the minimum wage and penalties for breaching the regulations.

This factsheet covers the Enterprise Investment Scheme, Seed Enterprise Investment Scheme, Social Investment Tax Relief, EIS and VCT and encouraging investment in knowledge-intensive companies and can a business owner claim these reliefs.