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Jane Wu LLB ACA
Tax optimal salary for 2022/23
UNDER REVIEW FOLLOWING THE CHANCELLORS SPRING STATEMENT When you are trading through your own limited company, you can optimise how you...
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Jane Wu LLB ACA
- 3 min
Should I make additional pension contributions before 6 April 2022?
It is prudent to plan ahead for retirement and tax breaks are available to encourage savings into a registered pension scheme....
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Jane Wu LLB ACA
- 3 min
Should you pay a dividend before 6th April 2022?
If you operate your business through a personal or family company and extract profits in the form of dividends, it is prudent to review...
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Jane Wu LLB ACA
- 3 min
Employed? What the National Insurance increases will mean for you
To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced from 6 April 2023....
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Jane Wu LLB ACA
- 2 min
Use your capital gains annual exempt amount
All individuals are entitled to an annual exempt amount for capital gains tax purposes. For 2021/22 and 2022/23, the annual exempt amount...
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Jane Wu LLB ACA
- 2 min
Does the increase in pension age impact you?
Increasing the normal minimum pension age Born on or after 6 April 1973? You may be impacted. The normal minimum pension age (NMPA) is...
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Jane Wu LLB ACA
- 2 min
How are dividends taxed?
Are you a company director or shareholder? Do you know how your dividends are taxed? What about the impact of the new health and social...
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Jane Wu LLB ACA
- 2 min
Payroll: RTI Penalties and period of grace
RTI penalties and period of grace Under real time information (RTI), employers are required to report pay and deductions information to...
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Jane Wu LLB ACA
- 3 min
Tax-efficient childcare
Childcare is expensive; however, the tax system can provide a helping hand. In recent years, there has been a shift from tax relief for...
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Jane Wu LLB ACA
- 2 min
Special capital gains tax rule for transfers of assets between spouses
Although married couples and civil partners are assessed individually for capital gains tax purposes and each has their own annual exempt...
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Jane Wu LLB ACA
- 3 min
Tax relief on loans to your company
Are you a director or shareholder who has loaned money to their company to help keep it afloat? Where a director borrows money in order...
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Jane Wu LLB ACA
- 3 min
Taxation of termination payments
As furlough comes to an end, you may need to consider letting staff go. If this is the case, you will need to budget for the Class 1A...
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Jane Wu LLB ACA
- 4 min
Year End Checklist ✔
Good monthly processes and some up front preparation are the formula for successful accounts and tax Is your business year end coming up?...
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Jane Wu LLB ACA
- 2 min
Loss relief for new businesses
If you became self employed in 2020 or 2021, it’s likely that you weren’t eligible for any government grant, probably realised a loss...
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Jane Wu LLB ACA
- 2 min
Take dividends while you can
For personal and family companies, a tax efficient strategy for extracting profits is to take a small salary and to extract any further...
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Jane Wu LLB ACA
- 1 min
VAT Invoices
What is a valid VAT invoice or reciept? Don't get caught out with the wrong paperwork. HMRC will only accept claims for input VAT when...
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Jane Wu LLB ACA
- 1 min
VAT and Charging Electric Vehicles
Confused on when VAT can be reclaimed for charging an electric car for business purposes? You're not alone. HMRC have recently tried to...
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Jane Wu LLB ACA
- 3 min
No profits for a Dividend?
What should you do if your business doesn’t have enough profits to pay a #Dividend? There are several options available... If you operate...
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Jane Wu LLB ACA
- 3 min
National Insurance & Company Directors
Did you know that special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities? You...
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Jane Wu LLB ACA
- 2 min
Reduced VAT for Hospitality & Leisure
5% extended to 30 September, 12.5% from October until 31 March 2022. Does your business benefit? To help the hospitality and leisure...
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