Malachy McLernon
Tax Corner: Big tax changes ahead for sole traders and partnerships
QUESTION: I have been operating my business as a sole trader for many years and I prepare my accounts each year to December 31.
Tax Corner: 60-day capital gains tax reporting for residential property disposals
QUESTION : I own a number of buy to let properties in the Mid Ulster area and I am in the process of selling one of these.
Tax Corner: Deadlines looming for returning and paying company expenses and benefits
QUESTION: The deadline for companies submitting their expenses and benefits to HMRC is July 6.
PERSONAL FINANCE: How tax and pension planning can encourage retired workers back to work
QUESTION: In the recent Budget, the Chancellor indicated that he was keen to incentivise the over 50s back into work.
PERSONAL FINANCE: Employee costs just keep rising
QUESTION: As a small company with 15 employees I would like to understand the changes coming in the new tax year regarding payroll taxes and the national minimum wage? ANSWER: The new tax year 2023/24 has just arrived and there are some legislative changes which affect payroll and the amount of pay that your employees will receive.
PERSONAL FINANCE: Key tax announcements in the spring Budget
QUESTION: Can you recap on what were the key tax announcements in last Wednesday’s spring Budget? ANSWER: Against the backdrop of calls by businesses to be incentivised to invest, Jeremy Hunt delivered his first spring Budget as Chancellor of the Exchequer.
Renting rooms in my house on Airbnb – what are the tax implications?
QUESTION: I live on my own and I am considering renting out a spare room on Airbnb to help with the current cost of living crisis and rising inflation.
Tax and gifting money to children
QUESTION: I sold my business a number of years ago and I am now thinking about giving some of the proceeds of this sale to my children.
Tax return deadline fast approaching
QUESTION: I may not be in a position to file my personal tax return for the year ended April 5 2022 and pay the amount of tax owing by January 31.
Digital income tax reporting delayed for two more years
QUESTION: Why have HMRC announced the delay of quarterly digital reporting of Income tax for the self-employed and landlords? ANSWER: The Treasury announced on Monday December 19 that compulsory use of HMRC’s Making Tax Digital (MTD) scheme for Income Tax Self-Assessment (ITSA) will be delayed by two years to April 2026.