Wokingham Accountants
The trading allowance enables an individual to earn up to £1,000 from self-employment, the provision of casual services (such as gardening or babysitting) or from hiring out personal equipment without having to pay tax on that income or tell HMRC about it. You may also make use of it if, for example, you sell items … Read more
HMRC use badges of trade to ascertain if a trade exists. Find out what the badges are and how to determine if you are carrying out a trade.
Are you trading? Lockdown restrictions have forced many businesses to close temporarily and for people to look at potential Side Hustles. Selling goods or clothes online on sites such as eBay and Depop offers the opportunity to raise some much-needed cash in these difficult times. What are the associated tax implications and do you need … Read more
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income, it makes sense to take advantage of available allowances. The following are a selection of some of the allowances on offer. Personal allowance Individuals are entitled to a personal allowance … Read more
