Is your company carrying out research and development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). HMRC have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to obtain advance …

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Savings

From the 6 April 2016 the Government introduced what is called the Personal Savings Allowance. This means that basic rate taxpayers can receive up to £1,000 interest tax free and higher rate taxpayers can receive up to £500 of interest …

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New Bombshell for Self Employed: Pay 400% More National Insurance or Lose State Pension

National Insurance for the self-employed has been a hot topic in recent months, with Philip Hammond scrapping his proposal to increase Class 4 National Insurance Contributions (NIC) after facing furious backlash from Tory back benchers. However, despite the chancellor’s NIC …

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Are you Prepared for the Challenge?

5-6th August was a great sporting weekend internationally and locally :- The World Athletic Championships, the All Ireland Semi Finals, well done Tyrone, and Tri- The-Lough all fighting their own personal battles. These events are great for motivation as we …

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Tax Relief available on Donations to Charities

Many people donate to charities during the tax year but a lot of the time the tax relief available on these donations is not claimed. The main form of tax relief on donations to charities is through Gift Aid. If …

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DON’T DELAY – RENEW TODAY!

The tax credits renewal deadline is 31 July 2017 – DON’T MISS IT! If you don’t renew your tax credits before the deadline, your payments will automatically stop and you may have to repay the money you received since 6 …

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Are you getting Tax Relief on your Farm House?

Commonly a farmhouse will perform a dual function, one as the administrative centre from which the farming operations are carried out on the land associated with the farmhouse and the second as a domestic dwelling for the farmer. A portion …

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Pensions

A pension scheme is a type of savings plan to help you save money for later life. Tax-relief is a key benefit of paying into a pension scheme. If you have a workplace pension, what you pay in is taken …

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What is Universal Credits and how will this impact you?

Universal Credit is a single means tested benefit that will be paid to you if your household income falls below a certain level. Universal Credit is intended to make sure you are better off in work than on benefits and …

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STAMP DUTY LAND TAX

When buying land or property not only do people have to be concerned with the purchase price but they also have to consider how much tax they will pay on the purchase. This tax is known as Stamp Duty Land …

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