
Available tax breaks this Christmas
An Accounting Gem's blog will take you through the tax allowances and reliefs that will help you celebrate with your business colleagues, family and friends this Christmas and New Year holiday period and claim any costs as a tax-allowable deduction.
Christmas…

Kickstart Scheme deadline fast approaching
Could you find useful employment for a young person in your business, and have the costs met 100% by government sponsorship?
What is Kickstart?
The scheme was launched September 2020 and aims to find employers who are willing to take on…

Attention landlords - Tax saving tips
What you can write off against tax for replacement of domestic items in your rented properties
At An Accounting Gem we often get asked by our clients to clarify what can be claimed if domestic items in your rented property are replaced.
The…

Why tax planning is a sound investment
Most of us would rather avoid the word “tax” and yet tax planning offers a unique opportunity to reduce the amount of tax that you pay and make a positive contribution to your efforts to outpace the current economic downturn and emerge financially…

Budget 2021
On 27 October 2021, Chancellor Rishi Sunak gave his second Budget speech of the year. As significant tax changes had been announced in the March Budget, this was widely expected to be more about spending than taxation. Many of these spending…

Making Tax Digital for Income Tax Self-Assessment
HMRC have delayed the implementation of MTD for Income Tax Self Assessment by a further year.
You will now need to be ready to make your first quarterly uploads to HMRC from April 2024.
It may seem that we have plenty of time to achieve…

30 days to pay capital gains tax
Since April 2020, all UK residential properties disposed of by UK resident taxpayers – that create a taxable gain for Capital Gains Tax (CGT) purposes – will have to be reported to HMRC within 30-days of the disposal. Any CGT payable will…

Customer Spotlight: Spartan IT Systems
This month, we’re excited to shine a spotlight on: James Spencer, Owner of Spartan IT Systems
Tell us a little about Spartan and what they do?
Spartan IT Systems was started at the very beginning of the pandemic. What began as a need to…

Filing deadlines and tax saving tips for 2020-21
Benefits and the tax consequences
At the end of each tax year, you will usually need to submit a P11D form to the tax office for each employee you have provided with expenses or benefits, for example, a company car.
The total taxable benefits…

What are the new National Minimum Wage rates?
The Government has approved the Low Pay Commission's recommendations for the new National Minimum Wage to be increased 2.2% from £8.72 to £8.91. The new wage rates take effect on the 1st April 2021 and if you're aged 23 years and over, you…



