Should you pay voluntary National Insurance contributions?

Essex Accountants, Trueman Brown, like to keep their client’s up-to-date with the latest developments.The payment of National Insurance contributions provides the mechanism by which an individual builds up their entitlement to the state pension and certain...

Optimal extraction of profits – Family companies for 2019/20

Essex Accountants, Trueman Brown, like to keep their client’s up-to-date with the latest developments. For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have the 35 qualifying...

Jointly-owned property – Who pays the tax?

Essex Accountants, Trueman Brown, like to keep their client’s up-to-date with the latest developments. Where property is jointly-owned, the way in which the rental income can be split between the joint owners for tax purposes depends on whether the joint owners...

Landlords warned to look at relief for pre-letting expenses

Romford Accountants, Trueman Brown, like to keep their client’s up-to-date with the latest developments. For tax purposes, a property rental business begins when the first property is let. However, it is likely that the landlord will have incurred some expenses...

Airbnb-type lets – Is rent-a-room relief available?

Local accountants and tax advisers, Trueman Brown, warn homeowners that use sites like Airbnb that they can enjoy tax-free income of £7,500 by using the rent-a-room scheme. Many homeowners have taken advantage of sites such as Airbnb to let out a spare room on a...