Posted in HMRC Notices
Employees who use their own money to buy things they need for their job, can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for work.
There is no tax relief
Posted in National Insurance
There are currently two types of national insurance contributions (NICs) payable by most self-employed people. These are known as: Class 2 NICs, and Class 4 NICs.
Class 2 NICs are paid by all self-employed taxpayers unless they qualify for the
Posted in Tax credits
Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2018. Claimants who do not renew on-time may have their payments stopped.
HMRC has started to send tax credits renewal packs to tax
Posted in Capital allowances
Most day to day business expenses can be deducted from business income when calculating your taxable profits. However, the rules are different for ‘capital’ expenditure’. Capital allowances is the term used to describe the allowances which allow
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