Rent-a-room Relief
September 1, 2022

The Rent a Room Scheme lets you earn up to a threshold of £7,500 per year tax-free from letting out furnished accommodation in your home. This is halved if you share the income with your partner or someone else.

You can let out as...

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Two thousand pounds tax free income
September 1, 2022

There is no tax to pay on trading income or earnings from land and property as long as the income from each source does not exceed £1,000.

Trading allowance

The trading allowance is a tax exemption of up...

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Inflation
September 1, 2022

To keep your earnings in sync with increases in prices is becoming progressively difficult. Most individuals – whether employed or self-employed – would find it unrealistic to secure pay rises (if employed) or price increases (if in...

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Change to capital gains on separation or divorce
September 1, 2022

Under present legislation any transfer of assets between couples who are separating, or divorcing are free of any Capital Gains Tax (CGT) liability as long as the assets are transferred during the year of separation/divorce.

This places...

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UK proposes digital deal to support Ukraine recovery
September 1, 2022

Ukraine has been offered a helping hand by the UK Government to rebuild its economy in the wake of the Russian invasion.

Talks between the two nations have led to plans to pursue a new digital trade agreement to help Ukrainian...

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Doubling up leaseholders to receive refund
August 31, 2022

Thousands of homeowners who have been paying doubled ground rent on their leasehold properties are to receive a refund.

Many of the 5,000 households throughout the UK affected by ‘doubling clauses’ will receive a windfall...

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Starling flies to the top of banking polls
August 25, 2022

Starling Bank has proved unstoppable in the latest large scale banking surveys, coming top for business and personal accounts.

Personal and small business current account holders were asked how likely they would be to recommend their...

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Broadband bill cuts help families stay connected
August 23, 2022

Struggling families have been given the welcome news that their broadband bills could be cut as the cost-of-living crisis continues to bite.

Millions of low-income households could be eligible for cheaper deals with internet service...

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Paying your tax late? Be prepared for higher interest
August 18, 2022

Late taxpayers will be facing higher interest rates from this week following the rise in the Bank of England base rate.

HMRC’s interest rates for late payment are linked to the base rate that was increased to 1.75% from 1.25%...

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Beautician gave Bounce Back Loan to sister
August 16, 2022

Abuse of the Bounce Back Loan scheme is continuing to land people in court as the Insolvency Service tightens its net around those who have misused the cash designed to help businesses during the pandemic lockdowns.

Five individuals...

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