Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Self-Employed

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Tax warnings for online sellers, influencers and content creators

February 22, 2023Income Tax, self-assessment, Self-EmployedLeave a commentadmin

HMRC’s latest wave of ‘nudge letters’ ­– used to prompt a response from the recipient – has been targeted at online sellers, influencers and content creators warning them that they may not have paid enough…

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Are you on top of Making Tax Digital’s latest developments?

July 6, 2022Making Tax Digital, MTD, National Insurance Contributions, self-assessment, Self-Employed, VATLeave a commentadmin

The widening scope of Making Tax Digital (MTD) is highlighting several issues, including the limited availability of the MTD for income tax pilot scheme, and low awareness of the recent expansion of MTD for VAT…

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Sharp rise in higher rate taxpayer numbers…….

May 12, 2022Employment Tax, Income Tax, IR35, self-assessment, Self-Employed, Tax, WealthLeave a commentadmin

......and if that’s you, then advice is now more important than ever. There was once a time when paying tax at more than the basic rate made you a member of a somewhat select club.…

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A new breed of digital nomad

April 28, 2022Income Tax, self-assessment, Self-Employed, TaxLeave a commentadmin

The pandemic has freed many workers from the confines of the office, leading to the emergence of a new breed of digital nomad – people who can take their laptop, jump on a plane and…

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NICs boost for the self-employed

April 16, 2022National Insurance Contributions, self-assessment, Self-EmployedLeave a commentadmin

Prior to the March Spring Statement, most self-employed individuals were facing increased national insurance contribution (NIC) bills this year. However, those with profits up to and just over £28,000 will now see a fall in…

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What is a ‘reasonable excuse’ for tax penalties?

February 21, 2022Capital Gains Tax, COVID-19, Income Tax, self-assessment, Self-EmployedLeave a commentadmin

Having a reasonable excuse can be a get-out-of-jail-free card if you are charged a tax penalty. However, there is no statutory definition of the term, and what might constitute a reasonable excuse for one person…

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Keeping it in the family – tax saving salary strategies

February 16, 2022Employment Tax, Income Tax, Law, PAYE, Self-EmployedLeave a commentadmin

An easy way to reduce a business’s tax bill – and also increase the amount of funds withdrawn from the business – is to put a family member on the payroll. Of course, the salary…

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Universal Credit eligibility expands to higher rate taxpayers

December 20, 2021COVID-19, Income Tax, self-assessment, Self-Employed, TaxLeave a commentadmin

Autumn Budget reforms have created a surprising clash of benefits and income tax. The Covid-19 pandemic was the first time many people utilised Universal Credit (UC) for the first time – between February and May…

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Changes afoot for Basis period tax rules

August 11, 2021Income Tax, MTD, National Insurance Contributions, Pensions, self-assessment, Self-EmployedLeave a commentadmin

Although it looks like the next Budget will be pushed back to spring 2022, several tax changes are already on the cards, some more certain than others. The government’s fast progress with reform of the…

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Some ‘new’ tax year opportunities

May 12, 2021Budget, Capital Gains Tax, Employment Tax, self-assessment, Self-EmployedLeave a commentadmin

"A bit late in the day, Femi" I hear you thinking. But is it? Some tax planning should happen before the end of the tax year; but the start of a new tax year also…

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  • Annual inflation in 2022 was 10.5%, but not all components rose by double digits.
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    Popular Posts

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    This website is designed as a marketing tool for the advertisement of the services of Femi O. Ogunshakin, a director of Loftus Stowe Ltd, a company registered in England, a company (no. 7552548). Registered office: Bold Business Centre, Bold Lane, St Helens, Merseyside, WA9 4TX. VAT no. 113 8203 52. Femi Ogunshakin is a solicitor and is regulated by the Solicitors Regulation Authority (SRA) who may consider Loftus Stowe Ltd to be a 'Separate Business' for the purposes of Chapters 11 and 12 of the Solicitors Code of Conduct 2011. Neither Fęmi Ogunshakin (SRA no. 197062) nor Loftus Stowe Ltd provide legal advice or make representations that its services are those provided by bodies recognised by the SRA to provide legal services under the provisions of the Solicitors Act 1974, the Legal Services Act 2007 and the Solicitors Code of Conduct 2011. Loftus Stowe Ltd is a consultant practice of Nexa Law Limited, a company authorised and regulated by the SRA under licence number 633024. Privacy Policy
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