Solid Business Blog

Business tips, success stories and more.

Tax Question of the Week: Changes in Entrepreneurs Relief.

How do changes in the Entrepreneurs relief conditions following the budget affect me and when do they come into force? The first key change was the definition of a personal company for Entrepreneurs’ Relief. Previously, a personal company was defined as one in which...

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Tax Question of the Week: Estates in Administration

Q: I need to register an Estate of a deceased person with HMRC but cannot find any relevant online forms. How do I register? A: The law has not changed but unfortunately, HMRC has continually changed its administration procedures regarding estates. The law (Section 7...

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Tax Question Of The Week: Finance Cost Restriction

Q: My client is a basic rate taxpayer with a small profit on their rental property. They also have employment income that is covered by their personal allowance, in addition, dividends have been voted from their limited company to utilise their basic rate band. On...

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Tax Question of the Week: Gift with Reservation.

Q: After careful deliberation, my clients have decided to transfer their main residence to their daughter – partly for tax reasons. Do they have to transfer this at market value? Alternatively, would it be preferable to sell the property, gift the proceeds to the...

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Tax Question of the Week: Professional Gambling.

My client’s son is a professional poker player and wins around £4,000 a month from playing poker. This is all he does and has no other earnings. Are the winnings taxable if playing poker is his profession? Betting and gambling do not amount to trading and so the...

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Solid – Expert Xero Accountants

Great news - Solid Ltd is now a Xero silver partner! Xero are developers of a beautiful cloud-based software that makes life easier for small and medium-sized businesses worldwide. We pride ourselves in being experts in Xero, which helps us towards providing a...

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Tax Question of the Week: Off-Payroll Working Rules

Q: My Client is working for a Public Sector Body through their own personal service company. They are caught under the Off-Payroll Working Rules and need to have an operation in the near future, will the Fee-Payer be responsible for the payment of any Statutory Sick...

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Tax Question of the Week: Pension Contributions.

Q: My client takes most of their funds from the company via dividends. How much can they and/or the company contribute to their pension? A: When an individual contributes to their pension, they must ensure that the amount they contribute is less than 100% of their...

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