Monthly Archives: August 2022

There are certain circumstances when you will pay Capital Gains Tax when selling personal possessions. You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. For example, you may need to pay tax on sale of personally owned…

Now our present Prime Minister has indicated his intention to resign it seems unlikely that a successor will be appointed before September. Which means Boris Johnson’s cabinet are caretakers for the interim period and it is doubtful that there will be any far-reaching changes to UK taxes. The new Prime Minister and his or her…

Since 2017, there is no tax to pay on trading income or earnings from land and property as long as the income from each source does not exceed £1,000. Trading allowance The trading allowance is a tax exemption of up to £1,000 a year for individuals with trading income from: self-employment. casual services, for example,…

If you are locked into an IVA and are concerned that recent increases in the cost of living are creating severe financial pressures, you can ask your IVA supervisor to review your income and expenses to see if you are eligible for a reduction in payments or a payment break. You will be required to…

More than a million small businesses are now eligible for discounted software through a flagship government scheme after a change to the rules. The Help to Grow: Digital Scheme, which cuts the price of leading software to boost productivity and growth in the UK’s smaller firms, is now available to businesses with just one employee.…