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Tag: Nantwich

Alextra Accountants
Tax-Free Rental Income of £8,500
By making the most of the rent-a-room relief and the £1,000 property income allowances, it is possible to receive tax-free rental income in 2018/19 of £8,500 (while utilising your personal allowance e...
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Alextra Accountants
HMRC Miscalculate Number Of Small Firms Affected By New...
HMRC miscalculated the number of small firms affected by the new EU VAT rules by more than 10,000%, according to a report by Enterprise Nation. New EU rules were introduced in January 2015 that requir...
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Alextra Accountants
Keeping Your Full Personal Allowance
The basic personal allowance of £10,600 for 2015/16 is reduced where a person has income in excess of £100,000. It is reduced by £1 for every £2 of income over this limit until the allowance is nil. T...
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Alextra Accountants
Invoice Finance Restrictions Lifted
A ban on anti-invoice finance terms in business contracts will be introduced by the Department of Business, Innovation and Skills (BIS) in early 2016, it has been announced. The move is aimed at helpi...
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Alextra Accountants
Care Costs Exceed Pension Savings
Care costs are higher than the average pension pot, research by LV= suggests. The average length of stay in a care home has increased over the last decade from 829 days to 955 days, or around 2 years ...
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Alextra Accountants
How To Payroll Benefits In Kind
From 2016/17 employers will have the option of dealing with the tax on most benefits in kind through the payroll in a process known as payrolling, rather than reporting them to HMRC at the end of the ...
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Alextra Accountants
Making Gifts Out Of Income To Save IHT
The inheritance tax legislation contains a number of exemptions which make it possible to give money away without fear of triggering an inheritance tax charge. One such exemption is that for normal ex...
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Alextra Accountants
Recharged Expenses – Are You Charging Too Much VAT?
A customer recently returned your bill saying that you had incorrectly added VAT on expenses you incurred in providing your services. He says he won’t pay your invoice until you correct it. Is he righ...
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Alextra Accountants
Extracting Cash From A Family Company
In determining the most tax-efficient way to extract cash from a family company, it is necessary to take into account individual circumstances. There is no one size fits all. The optimal strategy will...
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Alextra Accountants
Pay Any National Minimum Wage (NMW) Arrears Without Pen...
Employers have a legal obligation to pay employees a wage that is at least equal to the National Minimum Wage (NMW). From 1 October 2015, the NMW for employees aged 21 and over is £6.70 an hour. HMRC ...
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