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Jan 44 min read
Using ISAs to benefit from tax-free savings income - Go Figure Financial | Bookkeeping Services Manchester
A combination of higher interest rates and stealth taxation may mean that you are now paying tax on savings income for the first time. If...


Jan 43 min read
What expenses can you deduct if you are self-employed? - Go Figure Financial | Bookkeeping Services Manchester
If you are self-employed, you will pay tax on your taxable profit. In working out your taxable profit, you can deduct certain expenses...


Dec 3, 20243 min read
Impact of increase in SDLT supplement - Go Figure Financial | Bookkeeping Services Manchester
Despite the shortage in rental accommodation, investment in residential property is out of favour. In her Autumn Budget, the Chancellor...


Dec 3, 20243 min read
Time to sell the investment property? - Go Figure Financial | Bookkeeping Services Manchester
One of the few pleasant surprises in the Autumn 2024 Budget was that the Chancellor did not increase the rate of capital gains tax on...


Dec 3, 20242 min read
Maximise BADR on sale of the furnished holiday let - Go Figure Financial | Bookkeeping Services Manchester
The favourable tax rules that apply to furnished holiday lettings (FHL) come to an end on 5 April 2025. For many landlords, this may be...


Dec 3, 20242 min read
Pre-trading loan trap – sole trader v company tax relief - Go Figure Financial | Bookkeeping Services Manchester
Many start-up businesses take out loans to get going, e.g. to purchase stock needed to sell, or to make the first rent payment or rent...


Dec 3, 20243 min read
The impact of working from home on travel and subsistence claims - Go Figure Financial | Bookkeeping Services Manchester
Post pandemic, homeworking has become the norm, especially the increase in 'hybrid' working, i.e. spending part of the week at home and...


Dec 3, 20243 min read
Alternative Dispute Resolution – is it worth using? - Go Figure Financial | Bookkeeping Services Manchester
HMRC's Alternative Dispute Resolution (ADR) process was introduced over a decade ago, the intention being to provide an 'alternative'...


Dec 3, 20242 min read
Extension of MTD - Go Figure Financial | Bookkeeping Services Manchester
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), sole traders and unincorporated landlords within its scope will...


Dec 3, 20243 min read
Mandatory payrolling – what will it look like? - Go Figure Financial | Bookkeeping Services Manchester
Under payrolling, employers deal with taxable benefits provided to employees through the payroll, treating the taxable amount of the...


Dec 3, 20243 min read
Dispose of your business sooner rather than later to benefit from the best BADR rates - Go Figure Financial | Bookkeeping Services Manchester
Business Asset Disposal Relief (BADR) is a valuable relief which reduces the rate of capital gains tax payable on gains made on the...


Dec 3, 20243 min read
Tax-efficient Christmas parties and gifts - Go Figure Financial | Bookkeeping Services Manchester
Employers looking to spread some seasonal cheer can do so in a tax-efficient manner by taking advantage of the exemptions for annual...


Dec 3, 20243 min read
NIC for employers to rise - Go Figure Financial | Bookkeeping Services Manchester
One of the key announcements in the Autumn 2024 Budget was the rise in employer’s National Insurance contributions from 6 April 2025....


Nov 6, 20243 min read
VAT invoice and accounting controls - Go Figure Financial | Bookkeeping Services Manchester
VAT-registered businesses who use invoice accounting generally account for VAT when invoices are issued and received. HMRC have recently...


Nov 6, 20242 min read
Home responsibilities protection – do you have missing years? - Go Figure Financial | Bookkeeping Services Manchester
Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after...


Nov 6, 20243 min read
File your tax return by 30 December to pay what you owe through PAYE - Go Figure Financial | Bookkeeping Services Manchester
If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a Self Assessment tax...


Nov 6, 20243 min read
Setting up as a sole trader - Go Figure Financial | Bookkeeping Services Manchester
When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a...


Nov 6, 20243 min read
Overdrawn director’s loan account – must your company pay tax on the balance? - Go Figure Financial | Bookkeeping Services Manchester
In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may...


Nov 6, 20243 min read
Move back into a former home prior to sale to maximise PRR - Go Figure Financial | Bookkeeping Services Manchester
Where a property has at some time been a main residence, certain periods of absence are treated as periods of residence for the purposes...


Nov 6, 20243 min read
Different ways of owning property and why it might matter - Go Figure Financial | Bookkeeping Services Manchester
Under English property law, there are two ways in which property can be owned jointly – as joint tenants and as tenants in common. The...
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