LeeP Accountants News Blog | Page 9 of 25

Should My Business Buy Or Lease A Vehicle?

Since buying a vehicle is one of the biggest purchases you can make, it’s wise to take a look at all your options. Both leasing and buying have advantages and disadvantages.

Can I Employ Family Members?

More than 60% of UK businesses are family owned. You can employ any family members in your business and take advantage of the lower tax rates and personal allowances that may be available to your spouse, civil partner, or children. In turn, this arrangement can help reduce your household’s overall tax bill.

Do I have to pay Capital Gains Tax when I sell my home?

You don’t usually need to pay Capital Gains Tax when you sell your home but there are circumstances where you may be liable to pay Tax. Automatic Private Residence Relief You don’t pay Capital Gains Tax when you sell your home if all of the following apply: You have one home and you’ve lived in it…

Funniest Excuses for Not Filing a Tax Return on Time

In light of the recent Self-Assessment Tax Return deadline here are some of the funniest reasons people have given to HMRC for the late filing of their tax returns.

Allowable Expenses for the Self Employed

As a self-employed person you could be reducing your tax bill by more than you thought by knowing how to use allowable expenses to your advantage.

Tax Relief on Pension Contributions

Getting tax relief on pensions means some of your money that would have gone to the government as tax goes into your pension instead. You can put as much as you want into your pension, but there are annual and lifetime limits on how much tax relief you get on your pension contributions.