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Tag: Alextra Group

Alextra Accountants
Are You Paying The Minimum Wage?
The National Living Wage (NLW) and National Minimum Wage (NMW) increased from 1 April 2019. From that date, the NLW, payable to workers aged 25 and over, is set at £8.21 per hour. Workers under the ag...
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Alextra Accountants
Capital Allowances - Write Off Small Pools
Businesses which are not using the cash basis can claim capital allowances for capital items that are used in the business, such as plant and machinery, tools and equipment, and so on. Where the annua...
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Alextra Accountants
Is Tax Payable On Tips?
The question of whether tips and gratuities are taxable and subject to National Insurance Contributions (NICs) often results in a lively debate. Broadly, their treatment will depend on how they are pa...
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Alextra Accountants
Rent-a-Room: Can You Benefit?
Rent-a-room relief was introduced to encourage people to let spare rooms in their own home in order to increase the supply of low-cost rental accommodation. In return, the recipient is able to earn up...
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Alextra Accountants
Year-End Tax Planning Tips
As the end of the 2018/19 tax year approaches, it is worthwhile taking time for some last-minute tax planning. Here are some simple tips that may save you money.   1. Preserve your personal allowance...
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Alextra Accountants
The CGT Annual Exemption – Use It Or Lose It!
Capital gains tax (CGT) is normally paid when an item is either sold or given away. It is usually paid on profits made by selling various types of assets including properties (but generally not a main...
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Alextra Accountants
Wear It Pink - Helping To Save Lives
Our office is awash with the colour pink today in aid of Breast Cancer Now's - Wear It Pink Day.Wear It Pink is a great way to raise funds that go towards making life saving research happen. We will b...
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Alextra Accountants
Rewarding Staff Suggestions In A Tax-Free Manner
Many organisations operate a staff suggestion scheme and reward employees where a suggestion is adopted which will benefit the organisation or save money. The tax system contains an exemption which al...
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Alextra Accountants
Savings Income – How Is It Taxed?
The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people are able to enjoy savings income tax-free. For these purposes, sav...
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Alextra Accountants
Getting Ready For MTD For VAT
The start date for Making Tax Digital (MTD) for VAT is fast approaching – from the start of your first VAT accounting period beginning on or after 1 April 2019, if you are a VAT registered business wi...
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Alextra Accountants
Rent-A-Room: New Restrictions
Rent-a-room relief offers the opportunity to enjoy rental income of up to £7,500 tax-free from letting out a room in your own home. It does not matter whether you own or rent your home; what is import...
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Alextra Accountants
Inheritance Tax And Potentially Exempt Transfers
It is possible to make gifts during your lifetime free of Inheritance Tax (IHT), as long as you live for more than seven years after making the gift. Most lifetime transfers are ‘potentially exempt tr...
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Alextra Accountants
Private Lettings Relief
Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main residence at some point during the period of ownership and whi...
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Alextra Accountants
Claim A Deduction For Work Clothing
Many employees are required to wear a uniform for work. Even where there is no set uniform as such, many employees have clothes that they wear only to work and regard as ‘work clothes’. So, to what ex...
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Alextra Accountants
Is The VAT Flat Rate Scheme For Me?
The VAT flat rate scheme (FRS) is a simplified VAT scheme that enables VAT registered business to work out how much VAT they need to pay over to HMRC by applying a flat-rate percentage to their VAT-in...
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