National Insurance Contributions The Government has announced that it will be delaying the abolition of National Insurance Contributions (NICs) for low-paid self-employed workers for a year. The delay relates to the removal of Class 2 (NICs) and has been introduced to allow consultation on the impact of its abolition on the self-employed on low incomes. When Class […]
Buy To Let mortgage tax relief changes
Property Taxation Changes to the way landlords can claim buy-to-let mortgage interest tax relief have been a long time coming. The buy-to-let market’s gone through a lot of changes since then, but the introduction of the tax changes has rarely been in doubt. Landlords have therefore had plenty of time to prepare for the restriction […]
New Trivial Benefits Exemption from 6 April 2016
Trivial Benefits The new regime for Trivial Benefits in Kind (BIK) came into effect on 6 April 2016 and recently became legislation in the Finance Act 2016. Under the new trivial BiK regime, a BiK provided by an employer to an employee is exempt from tax as employment income if ALL the following conditions are […]
Cryptocurrency tax rules explained
Do you have to pay tax on bitcoin? Bitcoin has seen a dramatic increase over the past 12 months and investment in the cryptocurrency and other cryptocurrencies continues to surge. However the big question for most investors is, do you have to pay tax on cryptocurrencies in the UK? Millions of people jumped on the […]