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Avoid 60% Income Tax band
A ‘60% Income Tax band’ can arises when an individual’s income exceeds £100,000 in a tax year. Once this threshold is crossed, the personal allowance is gradually withdrawn at a rate of £1 for every
Child Benefit and the High Income Child Benefit Charge
The High Income Child Benefit Charge (HICBC) applies where an individual or their partner receives Child Benefit, and their adjusted net income currently exceeds £60,000. The charge may also apply
Five ways to improve customer retention
Winning new customers is important, but many businesses overlook the value of keeping the customers they already have. Existing customers are often more likely to buy again, recommend your business to
Are you too dependent on one customer?
Many successful businesses begin by working closely with one major customer. While this can provide valuable income and stability in the early years, becoming too dependent on a single customer can
Investment Manager Exemption (IME)
The Investment Manager Exemption (IME) is a long-standing HMRC concession that helps attract international investment in the UK. It allows overseas investors to appoint UK-based investment managers
Tax relief on professional subscriptions
Employees may be entitled to tax relief on certain professional fees and subscriptions that they pay personally. The relief is available where membership of a professional body is required for an
Understanding dividend tax
Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own
Company mobile phones and tax implications
When employers provide mobile phones to employees, it is important to understand the tax treatment that applies to both the device and any related costs. The rules also differ where employers
Tax treatment of loans to employees
Employees may receive a taxable benefit where an employer provides a loan that is interest-free or charged at a rate below HMRC’s official interest rate (currently 3.75%). The benefit arises from the
Employee travel expenses
There is no requirement to report certain travel and subsistence expenses where an exemption applies. The travel and subsistence benefits that do not need to be reported include reimbursed costs to
