Tax and Business




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Flow Chart
Flow chart - claiming overpayment reliefIf you discover a mistake in or an omission from your tax return or assessment, which has resulted in your tax bill being too high, and the deadline for amending it has passed, you may be able to claim overpaym... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - student loan repayments Whatever type of student loan you have you're required to make repayments when your earnings reach a certain level. You may have more than one type of student loan each with different repayment stating points and r... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - employee expenses paymentsAs an employee or director if you incur expenses relating to your job you might be entitled to claim a tax deduction for them. However, there are rules and procedures which HMRC applies rigorously.Flow chartThe ... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - requirement to complete a self-assessment returnThe rules which determine when an individual is required to complete a self-assessment return are widely misunderstood. HMRC complicates matter further with an odd set of practices which do... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - high income child benefit chargeIf you or someone you live with is receiving child benefit and your or their income exceeds the limit set by the government, one of you will be required to pay extra tax. The tax charge can apply in other ... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Simplified business expensesIn 2013 deductions for simplified business expenses were introduced. The rules were soon modified to allow their wider use. However, the list of expenses is specific and limited to certain business types.Flow chartThe Flow... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart- inheritance tax - gifts during lifetimeIf you give money, investments or other assets away it can trigger an immediate inheritance tax (IHT) charge. However, there are many exemptions and exceptions. If none of them apply it still does no... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - tax relief for loan interest An individual is entitled to tax relief against their general income for interest paid on loans or other advances (known as alternative finance) which are used for qualifying purposes. These are limited and s... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - appointing someone to help with your tax affairsIf you need help with your tax affairs you can ask an accountant, tax advisor, friend or family member to do so on a short or long-term basis. However, HMRC is notorious for insisting that ... Read more
15 Dec 2020
Credits: 1
doc
Letter
Structures and buildings allowance statementIf you intend to claim the structures and buildings allowance, HMRC's guidance stipulates that a statement containing certain key information needs to be prepared.AllowancesHMRC's guidance indicates that to c... Read more
14 Sep 2020
Credits: 1