“Wouldfullyrecommend, excellentserviceand communicationfromstartto finish”

-Philip Makin

We are working closely with Hargreaves & Woods, who can assist you with business development and specialist tax services.

Their philosophy is always to:

• Provide friendly, courteous and efficient service

• A lways exceed your expectations

• Listen to what YOU are saying

• Communicate with you quickly and fully

• Never surprise you with bills you’re not expecting

• Be honest, truthful and upfront with you at all times

• A im for you to pay the least amount of tax payable

• Provide pro-active business advice wherever possible

May Questions and Answers

Q. The payroll for my business has increased during 2022/23, so the employer’s NIC bill topped £100,000 for the first time. Does this mean I can’t claim the Employer’s Allowance for 2023/24? Is there anything I can net off against the NIC liability to bring it down below the £100,000 threshold?

A: You are correct that you will not be able to claim the Employer’s Allowance of £5,000 for 2023/24 as your employer’s NIC liability for the previous tax year (2022/23) has equalled or exceeded £100,000. There is no mechanism for setting off any other liability to reduce the total of the Employer’s NIC for this calculation. However, you shouldn’t include any employer’s NIC on “deemed payments” to contractors caught by the off-payroll working rule.

However, you shouldn’t include any employer’s NIC on “deemed payments” to contractors caught by the off-payroll working rule.

May key tax dates

Newsletter issue – May 2023

1 - Where the taxpayer has not submitted their 2021/22 selfassessment tax return by midnight the following penalties apply: for online filing - £10 daily penalties for filing on paper - the greater of £300 or 5% of the tax showing on the return.

3 - Employers must submit the form P46 (Car) to HMRC for employees who have been provided with a company car for the first time during the quarter to 5 April 2023.

Planning for retirement

On 6 April 2023, the pensions annual allowance increased from £40,000 to £60,000, and the pensions lifetime allowance was effectively abolished.

You can now contribute far more to your pension funds each year, and so can your employer. Any unused annual allowance can also be carried forward up to three years.

“Theprocessofre-sellingmy flatviaResidentialEstateswas professional,thorough&helped bythemhavingpreexisting knowledgeofmyproperty.The teamwereproactive&assisted withprogressingthesaleat pinchpoints. Iwouldthoroughlyrecommend ResidentialEstatesasaresellingagent.”

- AnonymousHomeseller

Updated Location Guides

Hull

Understanding Hull’s investment appeal is by no means rocket science. It’s a city where rental...

Read More Here

Manchester

When it comes to property investment, Manchester is undoubtedly one of the UK’s most popular and best-known locations...

Read More Here

Location Guides

Residential Estates have compiled several resources and guides to property investment locations set for growth in 2023. These guides offer property investors an in-depth insight into each area and what potential growth each area can offer for investors, as well as considering the different types of investment property available.

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Each guide will contain a detailed look into the following factors in regards to each region: the local economy, regional inward investment, current developments available, the principal growth sectors, the local housing market and regional investment predictions for 2023 and beyond.