If you are working from home on a regular basis either for the entire week or part of the week and incurring additional costs, you can claim income tax relief.
Plus Accounting are offering free 45 minute advice sessions on Inheritance Tax.
In the Chancellor’s Budget, he has announced that the personal allowance and income tax rate bands from 6 April 2021 for the next five years will be frozen.
Shortly before the 31 January 2021 filing deadline for 2019-20 self-assessment tax returns, HMRC announced that the late filing penalty of £100 would not be charged to any taxpayer who submits their 2019-20 by 28 February 2021.
There are a variety of expenses that can be deducted when calculating your net rental profit. Anthony takes a look at these in his blog on Reporting Rental Income!