Tax
Expenses and Tax According to Trade
Expenses and Tax According to Trade Part 1 Very common questions we receive – what can I claim on expenses? What tax reliefs are there according to my trade? The fact is, each trade has different expenses they can claim for, and there are different tax reliefs, so there is no blanket answer. Plus, what about if it is
Tax-Deductible Christmas Gifts
Tax-Deductible Christmas Gifts & Expenses Accounting for Christmas Cards Cards are a festive tradition, although lots of organisations may choose to send digital greetings to minimise paper wastage – it is worth noting – if you decide to send cards, these can be recorded as a Tax-Deductible Christmas Gift and expense. Worth noting, that any charitable donations or contributions to
Crypto Assets
Another common question from our clients – are cryptocurrency or crypto asset gains or profits, taxable under Capital Gains Tax? Can you obtain tax relief if you make losses on Bitcoin? In simple terms, gains on transactions in crypto assets are potentially taxable in the same way as other investments. At a glance HMRC has confirmed in its Crypto
Capital Gains Tax Explained
Following several questions from our subscribers and clients regarding Capital Gains Tax, below is an ‘At a glance’ guide to Capital Gains Tax reliefs. What are the key Capital Gains Tax reliefs? Who do they apply to? When does Capital Gains Tax apply? What are the rates/bands? What are the exemptions? There are numerous Capital Gains Tax reliefs in
Capital Gains Tax Vs Stamp Duty?
A survey on Capital Gains Tax vs. Stamp Duty was recently completed where four in ten people say that stamp duty should be scrapped completely and replaced with a capital gains tax on homeowners’ profits. While it shifts the tax burden from buyers to sellers who have profited from home ownership – this would no doubt be met with
Capital Gains Tax Changes
As discussed when we reported on the Autumn budget announcement, anyone selling a property is affected by changes to the Capital Gains Tax. Previously there was a window of 30 days for taxpayers to report gain and pay tax owed from selling a property. If the property was sold between 6th April 2020 to 26th October 2021, you would
HMRC Self Assessment Deadline
HMRC Self Assessment Deadline Extension: Penalties Waived HMRC have announced on 6th January 2022 they are waiving late filing and late payment penalties for Self-Assessment taxpayers for one month this January 2022 – offering you extra time to complete your 2020 to 2021 tax return and pay any tax due. Of course, Robinsons along with HMRC suggest you file and
Accounting made simple
Accounting can be time consuming – let’s face facts. With the New Year finally upon us, we’ve taken the opportunity to make a list of small(!) changes we can all make, to help take the strain out of doing business accounts. Designed for freelancers and SME’s, the Robinson’s North London team are on hand to help, all year round, because
Business support packages for Covid-19
Chancellor’s business support packages for coronavirus pandemic On 17 March, Chancellor Rishi Sunak unveiled a £330 billion worth of business support packages for the UK economy as it combats the COVID-19 pandemic. The measures dwarf the £12 billion made available in the 2020 Budget. The package includes an increase in government-backed loans, higher cash grants, widened business rates relief
IFS calls to raise taxes in upcoming Budget
IFS calls to raise taxes in upcoming Budget The IFS calls to raise taxes in upcoming Budget. The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes. The think tank stated that the Chancellor either needs to raise taxes or ‘break a fiscal rule’ in order to avoid day-to-day spending
Robinsons Chartered Certified Accountants is a highly respected and established accountancy firm with a small team of central London staff and additional back office support.
