
Conditions surrounding the claim for Incorporation relief
11th August 2022Conditions and problems surrounding the claim for Incorporation relief Businesses become companies for a variety of reasons. Not so long ago…
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Using the capital gains tax land and buildings toolkit
11th August 2022Using the capital gains tax land and buildings toolkit HMRC produce a number of toolkits which highlight common errors found in…
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Different lets, different tax rules
11th August 2022Different lets, different tax rules From a tax perspective, all lets are not equal, and the rules that apply to furnished…
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What qualifies for private residence relief?
11th August 2022What qualifies for private residence relief? Private residence relief is a well-known relief but one which is often misunderstood. It applies…
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Pros and cons of the VAT flat rate scheme
11th August 2022Pros and cons of the VAT flat rate scheme The flat rate scheme offers VAT registered traders who meet the eligibility…
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Tax-free savings income
5th August 2022Tax-free savings income There are various ways to enjoy savings income tax-free. However, not all routes are open to all taxpayers…
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Is paying mileage allowances at the approved rate still a good idea?
26th July 2022Is paying mileage allowances at the approved rate still a good idea? Where an employee uses their own vehicle for business…
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National Insurance changes for the self-employed
26th July 2022National Insurance changes for the self-employed If their profits are high enough, the self-employed pay two classes of National Insurance contribution…
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Loans to directors – beware of the higher section 455 charge
26th July 2022Loans to directors – beware of the higher section 455 charge Directors and shareholders in close companies are often able to…
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Post-cessation receipts and expenses – tax treatment
26th July 2022Post-cessation receipts and expenses – tax treatment Sometimes a business may have ceased trading but then receives income or incurs expenses…
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What happens if an asset not brought into business immediately
13th July 2022‘Roll over’ relief – what happens if an asset not brought into business immediately There is usually a capital gains tax…
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The role of the Adjudicators Office
13th July 2022The role of the Adjudicators Office Few taxpayers are aware that the Adjudicators’ Office (AO) exists. The AO was set up…
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Employee Ownership Day!
5th July 2022The Peloton are excited to announce that, as of the 24th of June 2022, we are officially employee-owned! Going forward all…
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NIC position if you are employed and self-employed
22nd June 2022NIC position if you are employed and self-employed Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring…
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Cryptocurrency – what is a sale – gain or income?
22nd June 2022Cryptocurrency – what is a sale – gain or income? Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed…
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Tax relief for the expenses of running a property business
22nd June 2022Tax relief for the expenses of running a property business In common with other types of business, expenses are unavoidable when…
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The Employee Ownership Revolution
22nd June 2022Meet James James has worked in the coffee industry all his life. Over the past decade he’s built a successful, independent…
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CGT or IHT
17th June 2022CGT or IHT Sometimes there is a choice of which tax to pay and where a person owns an investment property,…
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First-time buyer relief for SDLT and investment property trap
17th June 2022First-time buyer relief for SDLT and investment property trap First-time buyer relief may reduce the stamp duty land tax (SDLT) that…
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Should I change my accounting date?
16th June 2022Should I change my accounting date? In preparation of the introduction of MTD for income tax, which comes into effect from…
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Plan capital expenditure to benefit from time-limited reliefs
15th June 2022Plan capital expenditure to benefit from time-limited reliefs Unincorporated businesses and companies planning capital expenditure projects need to be aware of…
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Corporation tax – are you ‘associated’?
15th June 2022Corporation tax – are you ‘associated’? The corporation tax rules are changing from 1 April 2023, and the amount that a…
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High Income Child Benefit Charge – not just for higher rate taxpayers
15th June 2022High Income Child Benefit Charge – not just for higher rate taxpayers The High Income Child Benefit Charge (HICBC) is a…
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Relief for homeworking expenses post Covid-19
14th June 2022Relief for homeworking expenses post Covid-19 The Covid-19 pandemic forced large numbers of employees to work from home for the first…
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Distributions on cessation of a company
14th June 2022Distributions on cessation of a company Companies cease for various reasons, some closing for the personal reasons of their directors or…
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‘Pheonix companies’ – distribution treated as income rather than a capital gain in certain conditions
14th June 2022In 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
14th June 2022'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 2022Making 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 2022Can 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 2022Making use of the property income allowance The property income allowance allows you to earn a small amount of rental income... Read More