News from The Peloton -

NIC position if you are employed and self-employed Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring…

Cryptocurrency – what is a sale – gain or income?

Cryptocurrency – what is a sale – gain or income? Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed…

Tax relief for the expenses of running a property business

Tax relief for the expenses of running a property business In common with other types of business, expenses are unavoidable when…

The Employee Ownership Revolution

Meet James James has worked in the coffee industry all his life. Over the past decade he’s built a successful, independent…

CGT or IHT

17th June 2022

CGT or IHT Sometimes there is a choice of which tax to pay and where a person owns an investment property,…

First-time buyer relief for SDLT and investment property trap

17th June 2022

First-time buyer relief for SDLT and investment property trap First-time buyer relief may reduce the stamp duty land tax (SDLT) that…

Should I change my accounting date?

16th June 2022

Should I change my accounting date? In preparation of the introduction of MTD for income tax, which comes into effect from…

Plan capital expenditure to benefit from time-limited reliefs

15th June 2022

Plan capital expenditure to benefit from time-limited reliefs Unincorporated businesses and companies planning capital expenditure projects need to be aware of…

Corporation tax – are you ‘associated’?

15th June 2022

Corporation tax – are you ‘associated’? The corporation tax rules are changing from 1 April 2023, and the amount that a…

High Income Child Benefit Charge – not just for higher rate taxpayers

15th June 2022

High Income Child Benefit Charge – not just for higher rate taxpayers The High Income Child Benefit Charge (HICBC) is a…

Relief for homeworking expenses post Covid-19

Relief for homeworking expenses post Covid-19 The Covid-19 pandemic forced large numbers of employees to work from home for the first…

distributions of a cessation of a company

Distributions on cessation of a company

Distributions on cessation of a company Companies cease for various reasons, some closing for the personal reasons of their directors or…

‘Pheonix companies’ – distribution treated as income rather than a capital gain in certain conditions

In a private limited company, it is usual for a director to also be a shareholder. Payments made to shareholders are... Read More

‘Trivial benefits’ – PAYE

'Trivial benefits' – PAYE Legislation surrounding 'Trivial Benefits' was introduced to save employers from having to report relatively small amounts given... Read More

Making use of property losses

9th June 2022

Making use of property losses When letting property, the aim is to make a profit. However, as recent years have shown,... Read More

Can you benefit from rent-a-room?

9th June 2022

Can you benefit from rent-a-room? The rent-a-room scheme allows people to earn rental income tax-free when they let out a furnished... Read More

Making use of the property income allowance

9th June 2022

Making use of the property income allowance The property income allowance allows you to earn a small amount of rental income... Read More

Electric Car Scheme Opportunity

1st June 2022

Electric Car Scheme Opportunity We have partnered up with Electric Car Scheme to give companies the opportunity to offer their employees…

What counts as a garden for private residence relief?

1st June 2022

What counts as a garden for private residence relief? Private residence relief prevents a tax charge from arising if there is... Read More

Splitting capital and revenue expenditure

1st June 2022

Splitting capital and revenue expenditure When it comes to tax relief for expenditure, not all expenditure is equal. The relief, if... Read More

Employee Ownership Trust – Packing Checklist

Employee Ownership Trust - Packing Checklist Most of us, at some point in our lives, have been through some version of... Read More

Allocating income for tax when property is jointly owned

Allocating income for tax when property is jointly owned Property that is jointly-owned may be let out. As people are taxed... Read More

Plastic packaging tax – who is liable?

Plastic packaging tax – who is liable? Plastic packaging tax is a new tax that comes into effect from 1 April... Read More

Identifying NIC increased on the payslip

Identifying NIC increases on the payslip