Personal Allowances Personal allowances are fixed for 2014/15 at £10,000, the level promised in the Coalition Agreement. However, the recent Budget announced that there will be a further (above inflation) increase to £10,500 for 2015/16, in line with the allowance currently available to taxpayers aged 65 to 74. Those aged 75 and over will continue
If you run your own business, there are a huge range of costs that you can claim as legitimate expenses. This is a fantastic way to reduce the amount of tax that you pay each year. If you’re sensible, and keep hold of all of your receipts, including those for the £1 parking, you can
Did you know, that if you run a limited company, you can charge your company for use of your personal home space. This is a wonderfully tax efficient way of taking some of your company profits. It’s perfectly legal and an accepted use for your limited company to pay you rent for use of some
This won’t be the full picture or provide all the answers, but should give you some food for thought, and areas to look into. If you need help with the exact tips and expenses applicable to you then feel free to get in touch. Make sure you claim all your expenses – sounds simple but
Tax Tips for photographers Tax Tips for photographers – I have a special interest in photography. Not because I take photographs, but because my husband is a photographer. I also work with a number of photography businesses and so have some accounting and tax expertise in this industry. So here are a few tax tips
ON YER BIKE! Have you thought about using a bicycle for work? It’s very green – no emissions, no pollution, low carbon footprint It’s very healthy – keeps you fit, gets you out in the fresh air It can also be tax efficient! You can pay 20p per mile to an employee using their own
Green Cars Save tax & save the planet! Green Cars – Lets face it, we all want to pay less tax, and I believe most of us would like to save the planet too – if we knew how! Well guess what – you can do both! There are several tax advantages to going green