Member Since: 3rd Oct 2013
1st Aug 2016
If the amount of landlords decreases, then surely this will mean they are selling their rental properties (cant see them sitting empty) so this will increase supply to he property market and therefore decrease cost - bringing more people in a position to buy their home.
Equally increasing rents might not be the answer, as once the full force of the interest restriction comes into force, its possible to have an effective tax rate in excess of 100%...
6th Jul 2016
Thanks, I forgot to mention they had tax deducted at source of 118., so that would bring it in line...
6th Jul 2016
Not according to HMRC,
Example 3 in particular
20th Jun 2016
Might struggle passing 'the wholly and exclusively for the purposes of trade' test if questioned (especially seeing as it's creating a loss....)
28th Apr 2016
If E-cigarettes prove to create long term health issues (not saying they do or don't) are you not leaving yourself open for problems down the line by 'promoting' them to staff? Just a thought....
24th Mar 2016
My understanding is that to qualify for the employment allowance you need two employees (directors or otherwise) over the secondary threshold (£8,060 per year)
As the employee has to opt in to the scheme if income under £10k (generally speaking) per year.
Then you could have husband (director) on £11k, wife (employee) on £9k and qualify for employment allowance without auto enrolment liabilities....
22nd Mar 2016
I was and I certainly hadn't forgotten the £5K, it had rung many bells, and been included.
Just pointing out the rather precise dividend figure £28,784 wouldn't of been enough, needs to be more in the region of £29,175.
21st Mar 2016
By my calculations that only gives that only gives a net income of around £37,650 each.
So £700 short from the posters net income needs.
21st Mar 2016
Perhaps at the same time you should also consider them just taking it all out as a loan, as this refundable tax charge will mean there is no tax to pay whatsoever (in the long run)...
They could just borrow and borrow and borrow, knowing the tax will all come back in the end, and save these pesky calculations re dividends/salary for a future date, or different advisor! And we could the just sit back and watch the fees roll in...
18th Mar 2016
Some ‘professional gamblers’ do carry on a trade, for example, where they receive appearance money for appearing on television programmes. They are providing a service to a customer (the television production company) for reward. Whether their gambling winnings are proceeds of that trade would depend upon the facts.
I'd stick to the letting, clothing or sweets....