In the past year many of us have had to start new projects as a means to get extra income. But do you need to tell HMRC? Here’s what you need to know.

For now, making contributions into a pension scheme continues to be a particularly tax-efficient form of savings. There are rumblings that the Government may change their mind though so take advantage while you can.

It’s possible to leave up to £1 million completely free of inheritance tax as a joint estate by taking advantage of the residence nil rate band.

The 2020/21 tax year comes to an end on 5 April 2021. The last few months of the year are a good time to undertake a review and to ensure that allowance for the year is not wasted.

Giving assets to children or other family members may trigger an unwelcome capital gains tax bill, even if nothing was received in return.

The self-assessment tax return for 2019/20 must be filed and any associated tax paid by 31 January 2021. We discuss this and options to ease the tax payment burden.

The new tiered restrictions in England mean that accommodation has to close in some areas – if you have a holiday let we’ve written a guide on two lifelines that can be used for tax relief.

Interest paid on loans used for qualifying businesses purposes should be eligible tax relief and can save up to 45% of the cost of the interest.

Many businesses do their own accounts, mainly because they think it saves money. How cost effective is it to not use an accountant and when can we save you money?

When you run a limited company, you will need to be familiar with what a Director’s Loan Account is, how it works and what it means for you.

Find out why we choose Xero and why we are Xero partners

Yesterday, the Chancellor Rishi Sunak announced changes to both the furlough scheme and Self-Employment Income Support Scheme.

The Government has announced an extension to the Job Retention (furlough) scheme up to the end of November, as England prepares to go into lockdown once again.

Today TN Accountancy is celebrating 2 years in business.