If you’re a director of a limited company and you do some work at home, the company can pay you rent for your home office. Work can include time spent doing CPD. The benefit of doing this is you can take money from the company with little or no tax charge: The company will get…
Your self-employed profits are typically prepared on an ‘accruals’ basis – you include the income for work performed in an accounting year and not just the cash you received. However, if your income is less than £150,000, you can use the more straightforward cash basis to work out your profits. The cash basis option is only…
What is the Marriage Allowance and who can get it? You can receive or transfer 10’% of your tax-free allowance to or from your spouse or civil partner each tax year to save tax. You must be married or in a civil partnership, living together as a couple doesn’t count. One of you needs to…