In a further attempt to incentivise savings our government has created a new saving vehicle called a PrizeSaver account. Here’s what the Treasury press release on the launch says: Treasury launches pilot of new PrizeSaver account on International Credit Union Day. Savers who put away…
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Cars and taxing issues
We have listed below a number of issues that you will need to consider if directors or employees use a car for business purposes. Essentially, if the car is owned by the business any private use of the vehicle will trigger a tax charge for…
Paying tax if you are self-employed
If you are a sole trader or an individual member of a partnership you will likely be subject to income tax, and possibly National Insurance, on your earnings. Unfortunately, tax being taxing, earnings for tax purposes may not be the same as the monthly drawings…
Disposing of a UK residential property?
UK readers who are anticipating the sale of a residential property on which a capital gains tax (CGT) charge may apply would be advised to consider the changes to the reporting and payment of this CGT charge from 6 April 2020. The general rule will…