πŸ‡¬πŸ‡§ Thesecretinvestor - Tax Accountant πŸ’° πŸ’Έ πŸ“ˆ Profile picture
UK Tax Accountant running a UK Accountancy firm Owner of https://t.co/ywQ79xk79x πŸ’° I can save you Β£ https://t.co/qKFPaWT7KG https://t.co/K1sV0FVEJY
Jan 13 β€’ 14 tweets β€’ 3 min read
🧡 THREAD on how to prepare your Crypto Taxes πŸ‡¬πŸ‡§

Now I know preparing your taxes can be daunting, I speak to many people who bury their head in the sand and only come up when there is no other option

This can be easy, with the right Accountant and support πŸ”₯ Firstly speak to a knowledgeable Accountant in the space to ensure the advice you are getting is adequate and they know Crypto

Why should they know Crypto?
Jan 12 β€’ 12 tweets β€’ 2 min read
cryptotaxhelp.co.uk πŸ‡¬πŸ‡§

Below are 5 things to consider when assessing your CGT liability on your cryptocurrency Investment. 1 Make use of the CGT allowance

Every individual has an annual CGT allowance which currently lets them make gains of up to Β£12.3k free of tax (Fy20-21). If unused, the allowance cannot be carried forward into the next tax year, so it is advisable to use this tax-free allowance
Aug 24, 2021 β€’ 10 tweets β€’ 2 min read
Here is one I have been asked a lot lately

You can only claim tax relief for foreign travel paid for through your business if the trip has been wholly, exclusively and necessarily for the purpose of doing your job.

πŸ€” There are no exceptions to these rigid rules:

The trip must be taken wholly, exclusively and necessarily in order to do your job;
Any other related expenses claimed must be incurred wholly, exclusively and necessarily in order to carry out your job.
Feb 26, 2021 β€’ 25 tweets β€’ 4 min read
How to pay less tax There are lots of ways to reduce your tax bill legally, whether you're an employee or self-employed, a landlord, investor or pensioner.

Here are 30 simple tips and tricks that can help you cut your tax bill to put more pounds in your pocket. πŸ”₯ 1. Check your tax code
Your tax code indicates how much tax HMRC will collect from your salary. You can find it on your payslip. Check your tax code each year, or after changing jobs, to make sure it's correct for your situation.
Nov 24, 2020 β€’ 15 tweets β€’ 3 min read
Limited company v Sole Trader πŸ”₯THREADπŸ”₯

Advantages of a limited company structure

πŸ‘‰The most significant advantage for most people is limited liability, which means they are only responsible for business debts up to the value of their investments or what they guarantee However, there are many additional benefits, including:

– Tax efficiency.
– Credibility and professional company image.
– Opportunities for raising capital.
– Can be one person or multiple people setting up.
– Perpetual succession.
– Protected company name.

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