Q. I am approaching retirement age and I am looking forward to receiving my state pension. Will I have to pay tax on it? A. The state retirement pension currently counts as taxable income. However, whether you have to pay tax… Read more
Q. I am a sole trader trading as a graphic designer. I am voluntarily registered for VAT and I have several commercial clients who are also registered for VAT. Due to the coronavirus outbreak my graphic design business is very… Read more
Q. I have been contacted by coronavirus (COVID-19) Test and Trace. Am I eligible for statutory sick pay (SSP) from my employer? A. Under the test and trace system that launched on 28 May, a person who has been notified that… Read more
Q. I am the director of a limited company and due to the impact of the coronavirus, I will need to waive my entitlement to company dividends for the time-being. Are any formal waiver procedures necessary? A. A ‘waiver of remuneration’… Read more
Q. My wife and I own various assets – some are held in individual names and others are held jointly. We are wondering whether we should ‘equalise’ the value of our assets so as to reduce potential liability to capital… Read more