A reminder that business in the hospitality, leisure and accommodation sectors in England may be due support funding from their local authority. Recently, local authorities were reminded by government that they needed to process grants quickly. Extracts from a letter sent to authorities is reproduced…
Category: Uncategorised
Self-employed tax twisters
We are often asked why a self-employed person is paying so much tax when their drawings from their self-employed business are minimal. The reason for this is that sole traders and partners (individuals) pay tax on the profits they earn not on the amount of…
Landlords and tax - the basics
The following definitions set out how property income is calculated and taxed: Rental income – includes rents, amounts received to cover use of furniture, cleaning of communal areas, hot water, heating and repairs to property. Allowable expenses – any expense that you have laid out…
More time to file tax returns and pay tax due
HMRC is responding to the pressures we all feel as the new COVID-19 variant, Omicron, makes normal life difficult once more. The offer by HMRC is generous. Basically, they have announced that taxpayers who have still not filed their self-assessment tax returns for 2020-21, will…