A SIPP is a self-invested personal pension which is set up by an insurance company or specialist SIPP provider. It is attractive to those who wish to manage their own investments. Contribution to a SIPP may be made by both the individual and, where appropriate, by the individual’s employer. Investments The range of potential investment…
Voluntary NICs – should you pay? The payment of National Insurance contributions provides the mechanism by which an individual builds up their entitlement to the state pension and certain contributory benefits. Different classes of contribution provide different benefit entitlements. Employed earners pay Class 1 contributions where their earnings exceed the lower earnings limit – set…
Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in addition to that held in tax-free wrappers, such as individual savings accounts (ISAs). The ability to enjoy savings income tax-free is made up of three components: the personal allowance;the zero-starting rate for…
- Annual investment allowance or writing down allowance?
- Mileage allowance payments – what is NIC-free?
- Relief for trading losses
- Should an LLP partner be treated as a salaried partner?
- Gift cards and the trivial benefits exemption
- Using your car in your property rental business
- Grounds and gardens for SDLT
- Joint tenants v tenants in common – Does it matter?
- Employer-funded scholarships
- Weighing up LLPs
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Ensure you take advantage of the AIA when buying plant, machinery or equipment. This gives you 100% relief on the purchase of assets (subject to limits). This scheme has the potential to save up to 50% of the investment in tax depending on your circumstances We can advise and make sure you are taking full advantage
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