Blog

Welcome to our blog!

Read up on the latest news from DRS.

Cryptocurrency – what is a sale – gain or income?

Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed to stand apart from any government or bank they work through a computer network. Records confirming Individual ownership of the 'coins' are stored in a digital ledger with secure transaction...

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How to claim tax relief for employment expenses

If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for expenses. Relief is only available for expenses that you must incur, rather than those that you choose to incur, and the expenses must be...

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Gifts –beware capital gains tax may be payable

The nature of a gift is that it is something that is given to someone without receiving a payment in return. Consequently, as nothing is received in return it initially seems unlikely that making a gift would trigger capital gains tax on gifts. However, unfortunately...

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Autumn Budget 2021

The Chancellor’s well-trailed speech was accompanied by the first multi-year Spending Review since 2015 and the latest Economic and Fiscal Outlook (EFO) from the Office for Budget Responsibility (OBR).

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Claim tax relief for additional costs of working from home

In recognition of the homeworking requirements imposed by the pandemic, employees who do not receive homeworking payments from their employer are able to claim tax relief for the extra household costs that they have incurred while working from home.
A claim of £6 per week (£312 for the year) will save a basic rate taxpayer £62.40 in tax and a higher rate taxpayer £124.80 in tax.

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Passion, positivity and perfectionism

If you’re fired up about a great business idea but don’t know where to start, we can help.