KRW Q&A
What tax relief can i claim for working from home?
KRW Q&AJanuary 31, 2019|In KRW Q&A|By Keith WitchellMost business owners will do some of their work from home, but what tax relief can they claim for this? An unincorporated taxpayer (i.e., a…
How do the property and trading allowances work in practice?
KRW Q&ADecember 3, 2018|In KRW Q&A|By Keith WitchellIn April 2017 the government introduced two new £1,000 per annum tax-free allowances in relation to property and trading income. So, how do…
How does inheritance tax taper relief work in practice?
KRW Q&ASeptember 28, 2018|In KRW Q&A|By Keith Witchell Taper relief reduces the Inheritance Tax payable on gifts made during a taxpayer’s lifetime, providing they survive at least 3 years…
Will Entrepreneurs' Relief apply if I sell a property used in my business?
KRW Q&AAugust 31, 2018|In KRW Q&A|By Keith WitchellEntrepreneurs’ Relief applies to the sale of business assets or shares in a trading company, reducing the Capital Gains Tax rate to 10% for…
What are the Corporation Tax quarterly payment thresholds for a group?
KRW Q&AJuly 10, 2018|In KRW Q&A|By Keith WitchellMany readers are probably blissfully unaware of the Corporation Tax quarterly payment regime, since this only applies to companies with annual…
Can any VAT be reclaimed when you take a client out to lunch?
KRW Q&AJune 7, 2018|In KRW Q&A|By Keith WitchellMost readers are probably familiar with the general block on reclaiming VAT on costs associated with entertaining customers or suppliers. But…
Does VAT need to be charged on wage costs recharged to another business?
KRW Q&AMay 1, 2018|In KRW Q&A|By Keith WitchellSeveral clients have asked this question over the years, and for a very good reason. There is no VAT on wages, so surely recharging wages to…
Can I claim rent-a-room relief if I am not living in the property throughout?
KRW Q&AMarch 1, 2018|In KRW Q&A|By Keith WitchellRent-a-room relief allows you to let out part of your home without any income tax liability, providing your rental income does not exceed…
If an employee uses the company van, will a van benefit apply?
KRW Q&AJanuary 31, 2018|In KRW Q&A|By Keith WitchellWe all know that company car tax rarely makes it tax efficient to run a company car, but what about a company van? Are the rules the same?…