When you cash in a life insurance bond or certain investment policies, you might face something called a “chargeable event gain.” This is the profit built up inside the policy, which HMRC treats as income in the year you cash it in. The problem? The whole gain is added to your income for that year,
Tag Archives: HMRC rules
Allowable Limited Company Expenses, Corporation Tax, Organising Your Receipts & Invoices, Tax Planning & Saving Tips, Xero Tips & Tricks, Year-End Preparation Tips
Year-end tax planning for limited companies – top saving tips
Year-end tax planning for limited companies is all about making the most of reliefs and allowances before the clock runs out. If your company’s financial year-end is on the horizon, now’s the perfect time to review your finances and make sure you’re not missing any golden opportunities to save tax. From pension contributions to equipment