CIS COMPLIANCE FOR PROPERTY DEVELOPERS The Construction Industry Scheme (CIS) is a scheme whereby contractors of building firms are required to deduct tax at source from payments made to sub-contractors working for them. Some sub-contractors are entitled to be paid without any tax deduction, others at 30% as per HMRC’s instructions but the majority have […]
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Landlords – Don’t Overlook These Common Deductible Expenses As a landlord, the lower the taxable profit from your property rental business, the less tax you will pay. As allowable expenses are deducted from rental income to arrive at the profit figure, it is important that you do not overlook any expenses which you have incurred
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Tenant In Common V Joint Tenants Read More »
Claim expenses for additional costs of working from home As the 2020/21 tax year draws to a close, many employees will have spent much if not all of the last year working from home. While the tax system enables employers to pay employees a tax-free allowance of £6 per week (£26 per month) to cover
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Business Interruption Insurance – Are Pay-Outs Taxable? Read More »
