Apprenticeship Levy This is used to fund apprenticeship training in England and is a cost to employers. There was no mention of changes; therefore, the following apply in the tax year 2024/25: – Levy Allowance (per employer) £15,000– Levy Charge… Read more
The marriage allowance is £1,260 of the personal allowance which is available for transfer between spouses or civil partners. But this amount can only be transferred where the recipient is taxed at the basic rate (20%) or less (starter, basic… Read more
In his Autumn statement in November 2022 Chancellor Hunt announced cuts to the dividend allowance and the additional tax rate threshold, where individuals start to pay tax at 45%. You need to take these changes into account when planning how… Read more
As an individual landlord you can‘t deduct finance costs, including interest, from your residential property rents for tax purposes. Instead, you get tax relief for those costs as a basic rate tax credit calculated as 20% of the lower of:… Read more
In most cases, it is beneficial to offset trading losses against income – whether that means sideways loss relief against general income or carrying forward to offset future profits of the same trade. However, sometimes the trader’s circumstances mean that… Read more
