Call Us
Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
Help if you are struggling to meet your tax bills
Help if you are struggling to meet your tax bills Inflation is at a ten-year high and the ensuing cost of living crisis means that many people may be struggling to pay the tax that they owe. If this is you, what can you do about it? While it may be tempting to bury your...
Tax-free savings income There are various ways to enjoy savings income tax-free. However, not all routes are open to all taxpayers – the options depend on the nature of the savings and the saver’s other earnings and marginal rate of tax. Savings Allowance...
National Insurance changes for the self-employed
National Insurance changes for the self-employed Self-employed people will pay two classes of National Insurance contribution, Class 2 and Class 4, should their profits be high enough. Class 2 contributions are flat rate contributions of £3.15 per week for 2022/23. It ...
Do you work from home? You may be entitled to tax relief post Covid-19
Relief for working from home expenses post Covid-19 The Covid-19 pandemic forced large numbers of employees to work from home for the first time. Having made the transition to home working, post pandemic, many employees have continued to work from home some or all of the t...
Filing 2021/22 expenses and benefits returns
Filing 2021/22 expenses and benefits returns Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6 July 2022, unless they have been payrolled or included within a PAYE Settlement Agreement. Taxable expense...
Have you claimed the Employment Allowance?
Have you claimed the Employment Allowance? The Employment Allowance is a National Insurance allowance that eligible employers can claim and set against their secondary Class 1 National Insurance liability. The allowance is set at £4,000 for 2021/22 (capped at the emplo...
What are the rules when paying back a director’s loan?
Paying back a director’s loan – beware of the anti-avoidance rules Transactions between a director and his or her personal or family company are common and a director’s loan account is simply an account for recording the transactions that occur between the two. Ho...
Increasing the Normal Minimum Pension Age
Increasing the normal minimum pension age The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier due to ill-health). Registered pension...
Claim tax relief for additional costs of working from home
Claim tax relief for additional costs of working from home During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of employees found themselves working at home, often at very short notice. Many still have not returned to the wor...
Take dividends while you can For personal and family companies, a tax efficient strategy for extracting profits is to take a small salary and to extract any further funds needed outside the company in the form of dividends. However, while there are no restrictions on takin...
Latest News Items
Categories
At Arthur Boyd and Company we pride ourselves on providing a hands on and personal approach, specifically tailored to your individual needs. To find out how we can help, contact us today for a trusted consultation.
"*" indicates required fields
