{"id":1920,"date":"2021-12-23T16:54:39","date_gmt":"2021-12-23T16:54:39","guid":{"rendered":"https:\/\/www.aelmarkhams.co.uk\/?p=1920"},"modified":"2021-12-23T16:54:48","modified_gmt":"2021-12-23T16:54:48","slug":"year-end-tax-review-2021-2022","status":"publish","type":"post","link":"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/","title":{"rendered":"YEAR END TAX REVIEW 2021-2022"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<h4><a href=\"https:\/\/aelmarkhams.co.uk\/wp-content\/uploads\/2021\/12\/A-E-L-Markhams-25528-NLPDF-2021-22-Year-End-Tax-Review.pdf\"><strong>Click here to download the full article &gt;&gt;<\/strong><\/a><\/h4>\n<h4 class=\"column\">Brace for more change<\/h4>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<ul>\n<li>Taxes and Wages are rising.<\/li>\n<li>Have you used all your basic rate band and dividend allowance for 2021\/22?<\/li>\n<li>Check which benefits are tax-free for 2021\/22 and, to avoid P11D issues on other benefits, meet the deadline for making good the benefit.<\/li>\n<li>Consider the tax incentives for electric or hybrid company cars.<\/li>\n<li>Review your mix of income from your company to utilise your savings allowance for 2021\/22.<\/li>\n<li>Can you claim a tax deduction for working at home?<\/li>\n<li>Can you claim rent-a-room relief or the property allowance?<\/li>\n<li>Review the timing of asset acquisitions to maximise capital allowances.<\/li>\n<li>Review your borrowings to ensure a sustainable future for your let properties, particularly as interest rates are expected to rise soon.<\/li>\n<li>Can you transfer an income source to reduce your family\u2019s total tax bill?<\/li>\n<li>Are tax-favoured investments worth discussing with your advisers, despite the risk?<\/li>\n<li>Consider topping up your NIC record by claiming NIC credits or paying voluntary contributions.<\/li>\n<\/ul>\n<p>We recommend you undertake an annual review of your financial affairs to check that you are not paying more tax than you need to and whether the structures you set up in the past are still appropriate. Between now and the end of the tax year (5 April 2022) is a good time to assess whether you have claimed all the relevant allowances and are as well defended against high tax charges as you can be.<\/p>\n<p>The personal circumstances of each individual must be taken into account in deciding whether any particular plan is suitable or advantageous \u2013 but these suggestions may give you some ideas. We are happy to discuss them with you in more detail.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/aelmarkhams.co.uk\/wp-content\/uploads\/2021\/12\/A-E-L-Markhams-25528-NLPDF-2021-22-Year-End-Tax-Review.pdf\"><strong>Click here to download the full article &gt;&gt;<\/strong><\/a><\/p>\n<p>If you wish to discuss any of the items within the article further, or simply for a sane voice to talk through growing your business to the next level, feel free to call us.<\/p>\n<div id='contact-form-1920'>\n<form action='https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/#contact-form-1920' method='post' class='contact-form commentsblock'>\n<script>\n\t\t\t( function () {\n\t\t\t\tconst contact_forms = document.getElementsByClassName('contact-form');\n\n\t\t\t\tfor ( const form of contact_forms ) {\n\t\t\t\t\tform.onsubmit = function() {\n\t\t\t\t\t\tconst buttons = form.getElementsByTagName('button');\n\n\t\t\t\t\t\tfor( const button of buttons ) {\n\t\t\t\t\t\t\tbutton.setAttribute('disabled', true);\n\t\t\t\t\t\t}\n\t\t\t\t\t}\n\t\t\t\t}\n\t\t\t} )();\n\t\t<\/script>\n<div class='grunion-field-wrap grunion-field-name-wrap'  >\n<label\n\t\t\t\tfor='g1920-name'\n\t\t\t\tclass='grunion-field-label name'\n\t\t\t\t>Name<span>(required)<\/span><\/label>\n<input\n\t\t\t\t\ttype='text'\n\t\t\t\t\tname='g1920-name'\n\t\t\t\t\tid='g1920-name'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='name' \n\t\t\t\t\trequired aria-required='true'\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-email-wrap'  >\n<label\n\t\t\t\tfor='g1920-email'\n\t\t\t\tclass='grunion-field-label email'\n\t\t\t\t>Email<span>(required)<\/span><\/label>\n<input\n\t\t\t\t\ttype='email'\n\t\t\t\t\tname='g1920-email'\n\t\t\t\t\tid='g1920-email'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='email' \n\t\t\t\t\trequired aria-required='true'\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-url-wrap'  >\n<label\n\t\t\t\tfor='g1920-website'\n\t\t\t\tclass='grunion-field-label url'\n\t\t\t\t>Website<\/label>\n<input\n\t\t\t\t\ttype='url'\n\t\t\t\t\tname='g1920-website'\n\t\t\t\t\tid='g1920-website'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='url' \n\t\t\t\t\t\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-textarea-wrap'  >\n<label\n\t\t\t\tfor='contact-form-comment-g1920-message'\n\t\t\t\tclass='grunion-field-label textarea'\n\t\t\t\t>Message<\/label>\n<textarea\n\t\t                name='g1920-message'\n\t\t                id='contact-form-comment-g1920-message'\n\t\t                rows='20' class='textarea'  ><\/textarea>\n\t<\/div>\n\t<p class='contact-submit'>\n\t\t<button type='submit' class='pushbutton-wide'>Submit<\/button>\t\t<input type='hidden' name='contact-form-id' value='1920' \/>\n\t\t<input type='hidden' name='action' value='grunion-contact-form' \/>\n\t\t<input type='hidden' name='contact-form-hash' value='8ae3f1053a1f25b64ddb50aef636572e70864e0b' \/>\n\t<\/p>\n<\/form>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Click here to download the full article &gt;&gt; Brace for more change Taxes and Wages are rising. Have you used all your basic rate band and dividend allowance for 2021\/22? Check which benefits are tax-free for 2021\/22 and, to avoid P11D issues on other benefits, meet the deadline for making good the benefit. Consider the tax incentives for electric or &#8230; <\/p>\n<div><a href=\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":7,"featured_media":1922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[5],"tags":[10],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>YEAR END TAX REVIEW 2021-2022 - AEL Markhams<\/title>\n<meta name=\"description\" content=\"Year end tax review 2021-2022\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"YEAR END TAX REVIEW 2021-2022 - AEL Markhams\" \/>\n<meta property=\"og:description\" content=\"Year end tax review 2021-2022\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"AEL Markhams\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-23T16:54:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-23T16:54:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aelmarkhams.co.uk\/wp-content\/uploads\/2021\/12\/pexels-vlada-karpovich-4050347-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"ravi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ravi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\",\"url\":\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\",\"name\":\"YEAR END TAX REVIEW 2021-2022 - AEL Markhams\",\"isPartOf\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/#website\"},\"datePublished\":\"2021-12-23T16:54:39+00:00\",\"dateModified\":\"2021-12-23T16:54:48+00:00\",\"author\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/#\/schema\/person\/62b792ae56f5e0dac348b8fb05651c19\"},\"description\":\"Year end tax review 2021-2022\",\"breadcrumb\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/year-end-tax-review-2021-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aelmarkhams.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"YEAR END TAX REVIEW 2021-2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/#website\",\"url\":\"https:\/\/aelmarkhams.co.uk\/\",\"name\":\"AEL Markhams\",\"description\":\"Chartered Accountants &amp; 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Check which benefits are tax-free for 2022\/23 and, to avoid P11D issues on other benefits, meet the deadline for making good the benefit. Consider the\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"Tax Review","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2021\/12\/pexels-anete-lusina-4792285-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2147,"url":"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/","url_meta":{"origin":1920,"position":1},"title":"Autumn 2022 Statement \u2013 What You Need To Know","date":"November 18, 2022","format":false,"excerpt":"Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\u00a0 The key announcements are summarised below; Personal\/Employee State pension payments and means-tested and disability benefits to increase by 10.1%, in line with inflation. Top 45% additional rate of income tax will be paid on earnings over \u00a3125,140,\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"Autumn2022","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2022\/11\/Picture1.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1434,"url":"https:\/\/aelmarkhams.co.uk\/budget2020\/","url_meta":{"origin":1920,"position":2},"title":"2020 Budget &#8211; What&#8217;s in store?","date":"March 17, 2020","format":false,"excerpt":"Chancellor Rishi Sunak presented his 2020 Budget on Wednesday 11th March. We have summarised the top headlines business owners and employees need to be aware of: Business Owners Corporation tax: The main rate of corporation tax will remain at 19% for 2020\/21 Employment Allowance: Employer National Insurance Contributions is increasing\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2020\/03\/NEW-copy.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2953,"url":"https:\/\/aelmarkhams.co.uk\/unlocking-business-potential\/","url_meta":{"origin":1920,"position":3},"title":"Unlocking Business Potential: A Guide to Different Types of Capital Allowances","date":"December 21, 2023","format":false,"excerpt":"When it comes to navigating the intricate world of business finances, understanding the various types of capital allowances is key. These allowances play a pivotal role in determining the tax relief a business can claim on certain expenditures, ultimately impacting its bottom line. In this comprehensive guide, we'll explore the\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2023\/12\/pexels-george-becker-792031-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":3142,"url":"https:\/\/aelmarkhams.co.uk\/understanding-the-40-tax-bracket\/","url_meta":{"origin":1920,"position":4},"title":"Understanding the 40% Tax Bracket and Strategies for Efficiency","date":"February 15, 2024","format":false,"excerpt":"Celebrating pay rises, bonuses, and new clients is thrilling, but as success grows, the 40% tax bracket may loom. In this article, we'll explore what the 40% tax bracket entails, the income threshold, and ways to optimise your tax situation. What is the 40% Tax Bracket? How much do I\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2024\/02\/pexels-mikhail-nilov-6963921-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1835,"url":"https:\/\/aelmarkhams.co.uk\/super-deduction-on-capital-purchases\/","url_meta":{"origin":1920,"position":5},"title":"Super-Deduction on Capital Purchases","date":"July 12, 2021","format":false,"excerpt":"For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments. Under the super-deduction, for every pound a company invests, their taxes are cut by up to 25p. The new Capital Allowances offer As a result\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2021\/04\/pexels-anamul-rezwan-1145434-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/posts\/1920"}],"collection":[{"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/comments?post=1920"}],"version-history":[{"count":2,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/posts\/1920\/revisions"}],"predecessor-version":[{"id":1925,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/posts\/1920\/revisions\/1925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/media\/1922"}],"wp:attachment":[{"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/media?parent=1920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/categories?post=1920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aelmarkhams.co.uk\/wp-json\/wp\/v2\/tags?post=1920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}