Preserving the personal allowance

Preserving the personal allowance

by | Jun 25, 2023 | Personal Allowance, accountancy, Accountants, Business Owner, director, dividends, Employment, hmrc, Income Tax, making tax digital, MTD ITSA, partner, Self employed, Sole trader, tax

Accountants Chester – Tax Tip No. 26 The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal allowance until it is lost. The taper applies...
Declaring Instagram income

Declaring Instagram income

by | May 23, 2023 | accountancy, Accountants, bookkeeping, Business Owner, expense claims, expenses, Income Tax, Instagram, making tax digital, MTD ITSA, Self employed, social media, Sole trader, tax, tax rebate

Accountants Chester | Instagram Income Accountants Chester | How to Declare Instagram Earnings in the UK If you are an Instagram influencer in the UK, you may be wondering how to declare your earnings to HMRC. Here is a guide to help you do just that. Accountants...
Trivial Benefits – make use of the exemption

Trivial Benefits – make use of the exemption

by | May 12, 2023 | accountancy, Business Owner, director, Employment, expense claims, expenses, Family Business, Income Tax, MTD ITSA, Profit Extraction, tax, tax rebate

Accountants Chester | Tax Tip No. 19 Trivial benefits have their own tax exemption, which if used wisely can be used to treat employees. The exemption can also be used by personal and family companies as part of a tax-efficient profit extraction strategy. Accountants...