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If you rent any part of your main home out for residential purposes, there’s a tax free threshold of £7500 per year, effective from the 2016/2017 tax year. This means the first £7500 of the gross rent is tax free. Note that you cannot deduct expenses if you are taking advantage of this tax free … Continue reading
This is a short and sweet post on subscriptions (subs). If you are paying subs to an APPROVED professional organisation, the amounts may be allowed as a deductible expense for tax purposes. Ensure you make your checks ie do not rely on your accountant to check at year end. In any case, it will be … Continue reading
Phoenix Debola 