Cycle to work tax-free
As the cost-of-living crisis deepens, many employees are looking to save money. One option is to cut the cost of the commute by cycling to
As the cost-of-living crisis deepens, many employees are looking to save money. One option is to cut the cost of the commute by cycling to
Inheritance tax is often described as a voluntary tax. While most of us do not know in advance when we are going to die, there
If you are an employer, it is beneficial for both you and your employees if your workforce is healthy. Consequently, you may want to offer
You must register for VAT if your VAT taxable turnover for the last 12 months exceeded the VAT registration threshold of £85,000, or if you
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
Holiday homes and holiday lets are treated differently – holiday lets are liable for business rates while holiday home owners must pay council tax. This
Statistics published by HMRC in August 2022 revealed that in the 2021/22 tax year, 129,000 taxpayers reported residential property disposal using HMRC’s online service, filing
Furnished holiday lettings enjoy favourable tax treatment as long as certain conditions are met, allowing landlords of holiday lets to access certain valuable reliefs, such
HMRC can issue a determination when a taxpayer has failed to submit a tax return. The determination is HMRC’s formal calculation of tax that it
Gifting assets during one’s lifetime is never an easy proposition even though by doing so inheritance tax (IHT) may be reduced in the long run.
If you are feeling the pinch and you have a spare room in your home, you may consider renting it out to earn some additional
In the halcyon days of buy-to-let ownership, landlords were able to benefit from lettings relief if they sold a let property which at some point
Tax changes in recent years to the way that unincorporated landlords are treated for tax purposes, particular in respect to relief for interest, have resulted
For many years, working out whether tax savings could be achieved by incorporation was relatively straightforward. Once profits reached a particular level, transferring the trade
Although Family Investment Company’s (FIC) have been around for several years, awareness of the flexibility that such a vehicle affords has been growing in recent
Inflation is at a ten-year high and the ensuing cost of living crisis means that many people may be struggling to pay the tax that
Although spouses and civil partners are taxed independently, there are some tax breaks available. One of these is the ability for spouses and civil partners
Employers must act as a tax collector for HMRC, deducting tax, National Insurance and, if applicable, student loan deductions, from their employees’ pay and pay
Where a business is operated as a family company, it is necessary to extract the profits from the company in order to use them outside
It will not always be apparent when a hobby tips over into a trade and the point at which you need to declare your income
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