In his Autumn Statement the Chancellor, Philip Hammond, has announced the new increased rates of National Living Wage and National Minimum Wage. The increases will affect 2.4 million workers.
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Sian Kelly
If you make your money by selling online, you’re faced with a unique set of business challenges - not least the rapidly changing landscape of e-commerce technology.
Keeping you up-to-date on the Chancellor’s Autumn Budget announcements.
Recent reports in the press (October 2018), have highlighted the fact that HMRC has only fully tested 23 software products compatible with Making Tax Digital (MTD) due to delays in rolling out the full trial.
The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid.
Rent-a-room relief offers the opportunity to enjoy rental income of up to £7,500 tax-free from letting out a room in your own home. It does not matter whether you own or rent your home; what is important is that the let is of furnished accommodation in your own home.