THE DSK News

Month: August 2024

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Could you claim Pension Credits?

Date 29/08/2024

Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty.

The Department for Work and Pensions has launched a Pension

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Claim tax deduction for working from home

Date 29/08/2024

Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief directly from HMRC.

You can claim tax relief if you

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Medical and dental care for employees

Date 29/08/2024

There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’ medical or dental treatment or insurance if they

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Advising HMRC about additional income

Date 29/08/2024

There is an online tool available on GOV.UK that allows taxpayers to check if they need to advise HMRC about additional income they receive. The online tool can be found at

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Carry forward a company trading loss

Date 29/08/2024

There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future accounting periods. In general, a company can carry

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CGT Gift Hold-Over Relief

Date 29/08/2024

Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to benefit the buyer. This relief allows any gain on the

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Negative equity

Date 27/08/2024

Negative equity occurs when the value of an asset, typically a property, falls below the outstanding balance on the loan or mortgage secured against it. In other words, the amount owed on the mortgage is greater than the current market value of the

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Business sectors subject to AML regulation

Date 27/08/2024

In the UK, certain business sectors are required to register with a regulatory body, such as HM Revenue & Customs (HMRC), for Anti-Money Laundering (AML) purposes. These sectors include:

Money Service Businesses (MSBs): This includes currency

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Tips at work

Date 22/08/2024

Tips received at work do not count towards your earning for the purposes of the National Minimum Wage. However, you are still required to pay Income Tax on these tips and may also need to pay National Insurance.

The person who is responsible for

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What is an appropriate address for a company?

Date 22/08/2024

One of the key changes introduced as part of the Economic Crime and Corporate Transparency Act (ECCTA) was the introduction of new rules for registered office addresses. The ECCTA introduced new statutory objectives for the Registrar of Companies

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