Posted in Income Tax
Calculating the adjusted net income amount is necessary if any of the following apply:
A taxpayer is liable to an income-related reduction to the personal allowance when their adjusted net income is over £100,000 (regardless of their date of
Continue readingPosted in Capital Gains Tax
The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell certain residential property changed from 6 April 2020. This change meant that any CGT due on the sale of a residential property needs to be reported and a payment on
Continue readingPosted in Income Tax
If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effect this can have on your personal allowance and marginal tax rate.
If you earn over £100,000 in any tax year your personal allowance is
Continue readingPosted in Value Added Tax
Under standard VAT accounting, you pay VAT on your sales regardless of whether your customer has paid you. Under the Cash Accounting Scheme, VAT does not need to be paid over until your customer has paid your invoice.
Your business can enter this
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