Monthly Archives: August 2015

When tips are taxable

August 28th, 2015

  Confusion often arises regarding tips and gratuities as the tax and NIC treatment depends on how they are paid to the recipient. Cash tips handed to an employee, or left on the table at a restaurant and retained by that employee, are not subject to tax and NICs under PAYE, but the employee will […]


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Rent a Room

August 24th, 2015

  In the Summer Budget 2015, the government announced that the level of rent-a-room relief will be increased from the current level of £4,250 to £7,500 from April 2016. This means that from 6 April 2016, an individual will be able to receive up to £7,500 tax-free income from renting out a room or rooms […]


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Help to Buy ISAs

August 6th, 2015

  The new help-to-buy ISA, which is expected to be available from Autumn 2015, will enable first-time buyers to save up to £200 a month towards their first home. Investors will receive £50 from the government for every £200 saved, up to a maximum of £3,000. This means that the maximum that can be saved […]


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