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[Putting this out late in the tax year (we are in August!) because so many new businesses are being started post COVID-19 lockdown.] Most tax efficient salary for directors in 2020/21 is £8,788 per annum. This equates to £732 per month or £169 per week. You may top up with dividends. HOW IS THE TAX … Continue reading
Accurately calculating ‘Use of Home’ expenses has always been problematic even for experienced accountants due to the vagueness of HMRC guidance. The attached Excel Spreadsheet is what I consider an excellent aid for my clients and others out there. My sources are HMRC manuals and HMRC webinars. The formulas are already inserted so just plug … Continue reading
Phoenix Debola 