Factsheets.
A library of concise summaries of information. Pick a category below or search for a specific topic — and please contact us if we can provide further help and guidance.
All factsheets
Charitable giving
Tax relief on gifts to UK charities is available if you give under Gift Aid or through a Payroll Giving scheme or by making a gift of shares or land. We outline the reliefs available here. At Finance Wise Accounting Ltd, we can provide more detailed advice if you live in the Lond
Child Benefit charge
The receipt of Child Benefit can result in a tax bill. This potential bill brings the Child Benefit into the scope of self assessment and, if you live in the London area we, at Finance Wise Accounting Ltd, can advise you on the potential application of the Child Benefit Charge an
Dividends and interest
Special rules apply to the tax treatment of interest and dividends. At Finance Wise Accounting Ltd, we can provide guidance on the rules and help you minimise your income tax liability in the London or surrounding areas.
Enterprise Investment Scheme
The Enterprise Investment Scheme allows qualifying companies access to equity investment from new and, in some cases, existing shareholders. The shareholders obtain potentially attractive tax breaks. At Finance Wise Accounting Ltd, we can provide help if you are interested in fin
Individual Savings Accounts
ISAs are tax-exempt savings accounts available to individuals. At Finance Wise Accounting Ltd, we advise individuals on tax efficient investments in the London area. Some information about ISAs is given below.
Making Tax Digital for Individuals
Making Tax Digital (MTD) represents a significant change to the way in which taxpayers record their financial information and submit tax returns. At Finance Wise Accounting Ltd, we can provide guidance on the key aspects of MTD for individuals in the London area.
Personal tax - self assessment
We summarise the self assessment rules and penalties for failing to comply with your obligations. If you live in the London area we, at Finance Wise Accounting Ltd, can prepare your tax return on your behalf and advise you on payments that may need to be made to HMRC.
Personal tax - when is income tax and capital gains tax payable?
Under self assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the tax payment rules and penalties for failing to pay on time. If you live in the London area we, at Finance Wise Accounting Ltd
Property investment - buy to let
Buy to let traditionally involves investing in property with the expectation of capital growth with the rental income from tenants covering the mortgage costs and any outgoings. If you live in the London area we, at Finance Wise Accounting Ltd, can help you sort out some of the p
Property investment - tax aspects
On the basis that the investment in property appears to make commercial sense what tax factors should you take into account? If you are considering property investment in the London area we, at Finance Wise Accounting Ltd, can help you to make property investments in a tax effici
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme complements the Enterprise Investment Scheme and is attractive to start up companies and investors in such companies. At Finance Wise Accounting Ltd, we can provide help if you are interested in financing your start up business in the London
Statutory Residence Test
We consider the statutory residence test and outline rules and records required. If you live in the London area we, at Finance Wise Accounting Ltd, can provide advice on your individual circumstances.
Tax-Free Childcare
Tax-Free Childcare replaced Employer Supported Childcare, and has the advantage that the self employed, as well as employed individuals, can make use of the scheme. At Finance Wise Accounting Ltd, we can provide guidance on Tax-Free Childcare and Employer Supported Childcare in t
Taxation of the family
Individuals are subject to a system of independent taxation so spouses and civil partners are taxed separately. This can give rise to valuable tax planning opportunities. Furthermore, the tax position of any children is important. Marriage and civil partnership breakdowns can als
The New Tax Status Rules: IT, CGT and IHT
We, at Finance Wise Accounting Ltd, provide here an introduction to the taxation in the UK of income arising outside the UK for UK residents. If you live in the London area we can advise you of the effects of this legislation and deal with any tax issues arising.
Venture Capital Trusts
Venture Capital Trusts (VCTs) offer similar tax breaks to individuals as the Enterprise Investment Scheme. VCTs are managed by a variety of specialist fund companies. At Finance Wise Accounting Ltd, we advise individuals on tax efficient investments in the London area. Some infor