tax deductions

News by Tag

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...
rental property tax deductions

Tax deductions for new landlords

3rd October 2022
You have just completed your first year of a property rental business during which you spent a lot of money getting the properties ready for letting. You spent money on redecoration, repairs, structural work, fixtures, fittings and furnishings. How much of this expenditure is tax deductible?  Sam Scott from the Tax Team advises in this...