February 2025

News Posted

Making Tax Digital for Income Tax

28th February 2025
Making Tax Digital for Income Tax changes the way that self-employed individuals and landlords report their earnings to HMRC. If you are wondering how this might affect you and your business, Associate Kenneth Logan brings you the story so far along with a guide to the new rules. Making Tax Digital – what has happened...

New company – when can you start to pay yourself a salary?

20th February 2025
You have set up a new company but need to find premises before trading can begin. But can you take a salary from the business in the meantime?  Naomi Swan advises below. As you’re probably aware, in most circumstances dividends are the most tax and NI-efficient way to take income from a company. The trouble...

Tax and building a workspace at home

11th February 2025
Susan is a self-employed childminder. She is planning to have an extension built on her home, in which she’ll run her childminding business. Susan would like to know if she is entitled to a tax deduction for any of the construction costs. Partner and Tax Specialist, Christiaan Hansen, looks at the implications below. Homeworking Tax...