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- Minimise your Luna cryptocurrency losses by claiming tax reliefs now.
The cryptocurrency market can be a volatile space, with the value of various cryptocurrencies changing rapidly. Recently, one such cryptocurrency, Luna, has seen its value drop from £66.80 to £0.000176 in a matter of days. While we cannot increase the value of a cryptocurrency, we can offer ways in which you can minimise losses with … Continue reading Minimise your Luna cryptocurrency losses by claiming tax reliefs now. - Incorporation relief – What is it now?
You might be eligible to delay payment of Capital Gains Tax if you transfer your business to a limited company by using incporation relief. In return, you gain shares. Incorporation Relief allows you to not pay any tax until you have sold or disposed of the shares that you have gained from becoming a limited … Continue reading Incorporation relief – What is it now? - Venture Capital Schemes. What Is the Best Choice?
When it comes to investment opportunity, new companies are always a risk. In the UK only 40% of start-ups survive the first 3 years of business. This alarming statistic tends to put investors off from putting money into these younger companies. However, this is where the Government has provided Venture Capital schemes to entice investors … Continue reading Venture Capital Schemes. What Is the Best Choice? - Pay Zero Tax on £41,370 with these simple tricks!
By utilising various methods to save tax, it is possible to receive up to £41,370 while at the same time, pay zero tax on it. Here are the secrets to earn as much as possible while paying as little tax as possible. Personal allowance Initial earnings of up to £12,570 in the 2021-22 and 2022-23 … Continue reading Pay Zero Tax on £41,370 with these simple tricks! - How does VAT work now?
VAT stands for Value Added Tax. VAT is added to most goods and services that you purchase. The standard VAT rate is currently 20% which has been increased from 17.5% on 4th January 2011. When you view prices of items in shops in the UK, you see the inclusive price where VAT has already been … Continue reading How does VAT work now? - Uncertain about IR35? Learn more on IR35.
Off payroll working (IR35) Off payroll working usually applies to workers that are providing services through a company. These workers are usually called contractors. The IR35 rules ensure that they pay the same Income Tax and National Insurance contributions as normal employees would. Who does IR35 apply to These IR35 rules apply to; workers who … Continue reading Uncertain about IR35? Learn more on IR35. - Is Self-Employment or PAYE Better?
There are many factors to consider when making the decision between working as a PAYE employee (Pay as you earn) or self-employment. Here at CIGMA Accounting, we have an extensive amount of experience with clients seeking advice around this topic. When deciding which choice is best for you, you should consider aspects such as tax … Continue reading Is Self-Employment or PAYE Better? - What is an allowable expense?If you are self-employed, you can deduct some of your business expenses to work out your taxable profit. These expenses must be “allowable expenses” as laid out by HMRC. HMRC allows you to deduct the costs of certain purchases that are necessary to run your business. These costs are allowable expenses, they can be deducted … Continue reading What is an allowable expense?
