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Subscription scams

Subscription scams

by | Nov 18, 2024 | General

New proposals to crack down on subscription traps, have been unveiled by the Department for Business and Trade as the government launches a consultation on measures to make it easier for consumers to get a refund or cancel unwanted subscriptions. “Subscription...
Types of tax allowances for capital expenditure

Types of tax allowances for capital expenditure

by | Nov 14, 2024 | Capital allowances

Capital allowances enable businesses to claim tax relief on certain capital expenditures. Different rules apply to various types of capital expenditure, and the amount you can claim depends on the specific capital allowance you use. If an item is eligible for...
An overview of salary sacrifice arrangements

An overview of salary sacrifice arrangements

by | Nov 14, 2024 | Employment & Payroll

A salary sacrifice arrangement involves an agreement by an employee to lower their cash salary in exchange for non-cash benefits. Importantly, this reduction must not bring their earnings below the National Minimum Wage (NMW). If an employee wishes to join or...
Tax changes for Furnished Holiday Lets property owners

Tax changes for Furnished Holiday Lets property owners

by | Nov 14, 2024 | Income Tax

The current tax benefits for the letting of properties as short-term holiday lets (known as Furnished Holiday Lets – FHL) is to be abolished from April 2025. The changes will take effect on or after 6 April 2025 for Income Tax and for Capital Gains Tax and...
Limits on Income Tax reliefs

Limits on Income Tax reliefs

by | Nov 14, 2024 | Income Tax

The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced. The cap is set at the greater of 25% of income or £50,000. This limit applies to the total amount of...