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Construction Industry Scheme responsibilities
The Construction Industry Scheme (CIS) is used within the UK construction sector to help manage payments between contractors and subcontractors effectively. This scheme mandates that contractors
Meaning of Carried Interest
Carried interest is essentially a share of the profits from an investment fund that is paid to the fund managers. Unlike a fixed fee, its value depends directly on the fund’s performance. This type of
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 Once this threshold is crossed, the personal allowance is gradually withdrawn at a rate of £1 for every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
