There are certain circumstances when you will pay Capital Gains Tax when selling personal possessions. You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. For example, you may need to pay tax on sale of personally owned…
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Tax Diary August/September 2022
1 August 2022 - Due date for corporation tax due for the year ended 31 October 2021. 19 August 2022 - PAYE and NIC deductions due for month ended 5 August 2022. (If you pay your tax electronically the due date is 22 August 2022) 19 August 2022 - Filing deadline for the CIS300 monthly…
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Low-paid workers in line for cash boost
More than a million of the lowest-paid workers in the UK will receive a financial boost from 2025. New Government legislation just published confirms that around 1.2 million low earners who save for their pension through a Net Pay Arrangement (NPA) will get the same level of government top-up as those who use Relief at…
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Hospitality workers to benefit from tips regulation change
Hospitality staff will be able to keep their well-deserved tips from grateful customers under new legislation that has been backed by Government. Although customers may leave cash to say thank you to their waiter staff, many employers still keep the money for themselves. For card payments, it is even harder to keep track of where…
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