Student loans, property and pensions
Student loan repayments (SLR) are normally deducted under PAYE from employment income so many people incorrectly assume that SLR are not due on other ‘unearned income’ such as rent or pensions.
What state pension will you receive?
The amount of your state pension is largely determined by how many years of NIC you have completed during your working life.
VAT on land and buildings
When purchasing commercial premises you need to know whether VAT will be added to the price as the stamp duty land tax charge (or similar taxes in Wales or Scotland) is calculated on the VAT inclusive value.
VAT on work in pharmacies
From 1 May 2023 medical services can be VAT exempt if they are performed by a person who is not a registered health professional but who is directly supervised by a pharmacist.
Getting ready to retire
The changes to the pension rules announced in the Spring Budget were designed to dissuade higher earners from retiring early to avoid pension charges on high contributions but the new rules could have the opposite effect.
Avoid payroll problems with duplicated employees
A persistent bug in the PAYE system is caused by the HMRC computer creating a duplicate employment record which it then uses to demand PAYE for wages which have not been paid.