A Berrylands Based Building Company

We're an in house team of local builders based in Berrylands specialising in all aspects of building including extensions and refurbishments. We have a portfolio of projects stretching across our 10 years of trading. From Landscaping to Luxury Bathroom installations, our team of local trades is here to assist with any project you have planned for 2023

There’s an old saying about nothing being certain in life but death and taxes. Death may indeed be inevitable, but there’s still a few ways you can get money without taxes. These are partially or fully excluded from your income when calculating your National Insurance and Income Tax liabilities.

£1,000 trading allowance

You can make up to £1,000 a year from selling goods on eBay or similar activities. That’s because of the ‘trading allowance’, which covers income that isn’t your main job or self-employed business activity. As a general principle, you can make up to £1,000 in income without having to register as self-employed with HMRC or declare the income from it on a tax return. If you took in more than £1,000, you need to report it, but you can deduct a flat £1,000 in expenses rather than your actual costs.

Rent a room

If you have a spare room, you can make up to £7,500 income in rent before you have to start paying tax thanks to the ‘Rent a Room’ scheme. Despite the name, you can actually rent out more than one room. The £7,500 limit covers all income from rent in the property. The allowance is split if more than one person shares the income (e.g. you and your partner). You can only claim the allowance when renting furnished rooms in your home, meaning a building that you own and live in. (If you rent out a property you don’t live in, you can instead claim Property Allowance, which reduces your taxable income from the rent by £1,000 a year.) Remember, your legal relationship with the renter differs depending on whether you also live in the property.

Dividend allowance

If you own shares, you may receive an annual dividend. For the tax year 2023/24 the first £1,000 is tax free, although it is scheduled to fall to £500 from April 2024. Anything over this limit is taxed at 8.75 per cent if you are a basic rate taxpayer.

Pension pot

The State Pension is taxable, as are the regular payments you get from a personal or occupational pension scheme. However, your scheme may let you take lump sum withdrawals before your regular pension payments begin. As a general principle, you can take out 25% of the total value of your pension fund as tax-free income. Always take expert advice so that you understand the implications for both your taxes and your retirement income.

Double check

Always check the tax status of any income you receive, whatever the source. It could affect your PAYE tax code and whether or not you need to complete a self-assessment tax return. Whenever you use any of the options mentioned in this article, remember that you may still need to mention the income when claiming for Universal Credit and other benefits.

Taxation guidance to local businesses and sole traders for more than 25 years.

3 letters 13 - 4 letters 7 - 5 letters 4 - 6 letters:1 EVOXTR BANQUET NIGHT EVERY WEDNESDAY ONLY £13.95 Create your own 4 course meal from our menu: *Starter *Main Dish *Side Dish*Rice or Naan Please note: King Prawn & Fish Dishes are £3 extra 020 8399 0030/3904 285 Ewell Road, Surbiton www.prithicuisine.co.uk 10% DISCOUNT ON COLLECTION FOR ORDERS OVER £10 FULLYAIRCONDITIONED FORFREEHOMEDELIVERY ORDERSOVER£15 The best Curry House in Surbiton TheAffiliationof MasterChefs GOLD5STARAWARDWINNERS CONTEMPORARY BANGLADESHI AND INDIAN CUISINE

• Accounts and Taxation

• Self Assessment Tax Returns

• Self Assessment Tax Returns

• CIS and Payroll

• VAT Returns

• CIS and Payroll

• VAT Returns

• Tax Planning and Advice

• Book Keeping Services

• Tax Planning and Advice

• Book Keeping Services

Contact Mark Baker 020 3044 2747 07909 703463 Email: markbaker@mbaccountancy.co.uk

Running a business without advertising, is like winking at someone across a dark room. You know what you are doing, but no-one else does! email: karen@berrylandscompanion.co.uk

Cricket’s Greatest Rivalry: A History of The Ashes in 12 Matches by Simon Hughes

With the 2023 Ashes Test Series set to start at Edgbaston on 16 June, all eyes will be on England to see if they can get back to winning ways on home soil – they haven’t won the famous Urn since 2015. For cricket-crazy fans, this book is a fast-paced distinctive history of the iconic, 137-year-old cricketing rivalry between England and Australia by commentator, analyst and award-winning cricket historian Simon Hughes, along with complete statistics and records of all the Ashes fixtures and results and much more!

The Bullet That Missed by Richard Osman

A decade-old cold case leads Osman’s beloved aging investigators, the Thursday Murder Club, to a local news legend on the hunt for a sensational headline and a murder with no body and no answers. Then a new foe pays Elizabeth a visit. Her mission? Kill... or be killed. Can the gang solve the mystery and save Elizabeth before the murderer strikes again? Full of Osman’s trademark charm, insight and intelligence, this is the third novel in his record-breaking, million-copy bestselling Thursday Murder Club series.

The Catcher in the Rye by J.D. Salinger

Regularly voted one of the best English-language novels of the past 100 years, this witty, wise and bittersweet 1951 novel is a tale of postwar alienation told by angst-ridden 17-year-old Holden Caulfield as he grapples with growing up, loss, sex, depression, his identity, and understanding the events that shaped him. Controversial at the time of publication for its frank language, this ultimate American coming-of-age novel was an instant best-seller.

The Gold by Neil Forsyth & Thomas Turner

The astonishing true story of the robbery of the century, Brink’s-Mat, Britain’s biggest heist. On 26 November 1983, an armed gang stole gold bullion worth almost £26 million from the Brink’s-Mat security depot near London’s Heathrow Airport. For 40 years, myths and legends have grown around the Brink’s-Mat heist and the events that followed. This is the conclusion of extensive research and includes exclusive testimony from one of the original robbers, who gives his version of events for the first time.

A Cook’s Tour by Anthony Bourdain

Part travel memoir, part gastronomic journal, lifelong cook and bestselling author of Kitchen Confidential, Bourdain’s passion for food and adventure shines through in this culinary classic as he travels around the world in search of the perfect meal. And as he makes his way from California all the way to Cambodia, he experiences some of the world’s greatest – and most delicious – culinary adventures. But being Anthony Bourdain, this was never going to be a conventional culinary tour…

Wordle Challenge

The chance to play the online sensation Wordle offline, with a collection of 500 brainteasing word-based puzzles to do anytime, anywhere. Based on the same format that has proved a runaway success, these stimulating Wordle puzzles are graded from Easy to Expert level. Puzzlers must guess what the correct word is, deducing from previous words in the grid what letters go where. A clue means there is only one correct solution to each puzzle, and answers can be found at the back of the book.