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About Paul Ankers

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So far Paul Ankers has created 114 blog entries.

2024-25 tax changes rates

National Insurance and Tax Tax-free personal allowance – £12,570 Basic rate – 20% – up to £37,700 Higher rate – 40% – from £37,701 to £125,140 Additional rate – 45% – above £125,140 National Insurance Rates Primary threshold - £12,570 [...]

2024-03-25T16:21:24+00:0025 March 2024|

Tax Basis Period Reform for Sole Traders and Partnerships

If you're a sole trader or a partner in an unincorporated or incorporated partnership, upcoming changes in tax rules may affect you. These reforms alter how businesses like yours are taxed. Overview of the Basis Period Reform HMRC is changing how taxable profits are calculated. Previously, unincorporated businesses were taxed [...]

2024-02-29T10:42:31+00:0029 February 2024|

Understanding cryptoasset taxes in the UK

Whether you currently own cryptoassets, or you have done previously, it's crucial to understand the tax implications and what you might owe to HMRC. In this blog, we’ll delve into the rules surrounding crypto tax and explore how you can stay compliant. HMRC’s stance on crypto tax HMRC initially likened [...]

2024-01-24T15:18:17+00:0010 December 2023|

Can you claim your festive celebration as a business expense?

The festive season is approaching and many Limited Company directors are starting to prepare for their yearly celebrations. Fortunately, HMRC recognises staff entertainment as a valid business expense, but your festivities need to follow certain rules to qualify for tax and National Insurance exemption. What are the rules?  To be [...]

2024-01-15T10:28:45+00:009 November 2023|

Business Bank Account FAQs

What’s the difference between my personal bank account and a business bank account? When you set up a business it’s a great idea to get a separate business bank account set up. Your business and personal affairs, including finances, are kept completely separate, and having a business bank account allows [...]

2024-01-15T10:28:45+00:0011 September 2023|

How much tax can you expect to pay on an electric car?

In recent years, electric cars have become increasingly common on our roads. Charging points are now a familiar sight in supermarket and office car parks, as well as private driveways. And with Government targets for all cars to be hybrid or electric by 2030 and 100% electric by 2035, it [...]

2024-01-15T10:28:46+00:0018 July 2023|

The Spring Budget 2023

Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will [...]

2024-01-15T10:28:46+00:0016 March 2023|
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