by Mubashir | Dec 26, 2018 | Limited Company, Personal Tax, Tax Issues
How do you tax Bitcoin? Are cryptocurrency or cryptoasset gains or profits taxable? Can you obtain tax relief if you make losses on Bitcoin? How do you tax Ethereum profits? Gains on transactions in cryptoassets, of which Bitcoin is a cryptocurrency are...
by Mubashir | Apr 2, 2018 | Budgets & Other, Landlord, Limited Company, Payroll & PAYE, Personal Tax
Income Tax Rates and Bands Recent income tax rates and bands are as follows: 2015/16 2016/17 2017/18 Savings rate: 10%, 0% from 2015/16 0 – £5,000 0- £5,000 0- £5,000 Dividend Allowance: 20% NA 0 – £5,000 0 – £5,000 Basic rate: 20% 0 – £31,785...
by Mubashir | Mar 29, 2018 | Misc, Personal Tax
Employees Working Abroad When your employees go to work abroad you need to think about their potential liability to income tax and national insurance, but be careful because there are different rules for each. Income tax The tax liability will depend on how long the...
by Mubashir | Mar 29, 2018 | Budgets & Other, Misc, Personal Tax
The Basics of Inheritance Tax Inheritance tax (IHT) is starting to be more of a concern to many people. Most estates (the assets you leave when you die) are still not charged with inheritance tax, as the total value is not high enough, but more estates are being...
by Mubashir | Mar 29, 2018 | Misc, Personal Tax
The legislation that gives the power to HMRC to make a discovery assessment is section 29 Tax Management Act (TMA) 1970. Requirements for a discovery assessment HMRC cannot generally raise a discovery assessment if the taxpayer has filed a tax return unless HMRC...
by Mubashir | Mar 1, 2018 | Limited Company, Misc, Personal Tax, Tax Issues
Family Tax Planning In this helpsheet we’re going to look at the main ways of tax planning with the use of family members… Paying wages to your spouse/civil partner and children through your business Your spouse/civil partner may not have any income at...