MBN Accountancy

19/06/2022

When a company ceases trading, any assets they have accumulated are usually distributed to shareholders after any liabilities have been paid. The method of distribution should be planned carefully to ensure that minimal tax is paid. Learn more in this article.

https://mbnaccountancy.com/distributions-on-cessation-of-a-company/

06/06/2022

Legislation surrounding 'Trivial Benefits' was introduced to save employers from having to report relatively small amounts given to employees as taxable on form P11D. In this video you can learn about the rules and pitfalls surrounding ‘Trivial Benefits’.

04/06/2022

If you’re a company director disposing of company shares you need to take care that you do not fall foul of anti-avoidance rules. In this video you can learn about the various rules around share disposal.

31/05/2022

Everyone would love to make a profit from their properties, but in a volatile market it isn’t always possible. If you make a loss on your properties instead, there may be a way to claim tax relief for this. In this article you will learn how to calculate losses and claim tax relief from them.

When letting property, the aim is to make a profit. However, as recent years have shown, life is unpredictable, and things do not always work out as planned.

28/05/2022

Property investors can earn a small amount of income from properties tax-free. Find out what the property income allowance is and how to claim it. Make sure you’re not missing out by reading this article.

The property income allowance allows you to earn a small amount of rental income tax-free each year. It is useful where the rent-a-room scheme does not apply

25/05/2022

You can claim tax relief for any costs your company incurs before it starts trading. In this article, you can learn what sort of costs you can claim relief for and how to claim the relief for your business.

When you start a business, you will need to incur costs before you are able to start trading. Did you know that you are able to claim tax relief for

23/05/2022

National Insurance Contributions have been through many changes, some of these changes are set to take effect during the tax year, so it’s important to be aware of the changes and what the new contribution model looks like. Learn more in this article.

Although the National Insurance rates and thresholds for 2022/23 had already been set, at the time of the Spring Statement in March 2022, the Chancellor

20/05/2022

Due to the pandemic, the carry-back window for loss relief rules was changed. Where companies are making a claim for relief under the extended rules, the claim can be made online rather than waiting until the company tax return is filed. In this article, you can learn more about the extension and how to claim.

To help companies realising losses as a result of the Covid-19 pandemic, the loss relief rules were amended to provide for an extended carry-back window.

16/05/2022

Using the government’s simplified expenses can help you save time when completing your tax return. In this article, you can learn what simplified expenses are for travel and working from home and learn how to apply them.

A lot of time and paperwork can be saved by claiming expenses using the simplified rates, rather than recording and deducting actual costs. However, if the

11/05/2022

Employees that incur expenses to carry out their jobs are able to claim tax relief subject to certain conditions. In this article, you can learn what reliefs are available to employees and how to claim for them.
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If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for those expenses. Relief is only

08/05/2022

Many businesses have, in the past, incorporated to help make tax savings. However, increasingly there are differences between self-employed and company tax rates which means that incorporation may not be worth it unless your company is making profits in excess of £50,000. Learn more in this article.

Businesses become companies for a variety of reasons. Not so long ago it was mainly as a tax planning tool but increasingly the differences in tax rates

05/05/2022

You may find yourself paying too much National Insurance if you are both employed and self-employed. Reading this article will help you understand the rules around national insurance contributions for both employed and self-employed wages and how they should apply to you. Understand the rules and ensure you are not paying too much for no extra benefit.

Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring Statement (the increase being replaced by the Health and Social Care