Recruitment agencies often use umbrella companies to pay temporary workers. HMRC confirms that there is no statutory definition of an umbrella company and currently describes
People set up in business for a variety of reasons. For some it is a dream that becomes a reality some years later. In working
Work may be undertaken on a property to repair it or to improve it, and it will not always be clear where the dividing line
A would-be property investor will need to be able to fund the purchase of their investment property. They may choose to do this personally or
Not all property is equal when it comes to stamp duty land tax (SDLT). Higher rates apply to residential properties than to non-residential properties, with
Employers must pay their workers at least the statutory minimum wage for their age. Depending on the age of the worker, they may be entitled
Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC after the end
For tax purposes, where an employee uses their own car for work, mileage allowances can be paid tax-free up to the approved amount, which is
As the end of the tax year approaches, it is prudent to review your pension contributions for the year and consider whether it is worth
As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the
No one wants to pay more tax than they need to and, where possible, disposals should be timed to ensure that the best result is
As we move into the final months of the 2023/24 tax year, it is time to give some thought to whether you have used your
If you are running an unincorporated business, either as a sole trader or as a partnership comprising only partners who are individuals, you can use
In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from 12% to 10%.
The self-employed have historically paid two classes of National Insurance – Class 2 and Class 4. However, this is set to change from April 2024
The cost of living crisis has impacted on people’s ability to take holidays and short breaks. If you are a landlord letting a furnished holiday
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced from 6 April 2026 From the outset, it will apply to unincorporated
It is possible to enjoy tax-free income from property, even if you have already used up your personal allowance. This is because the property allowance
Despite 4.2 million couples being eligible for the tax break, only 1.8 million are claiming the marriage allowance (MA) – a benefit worth £252 a
HMRC believes that not everyone is paying the correct amount of tax, estimating what it terms as ‘the tax gap’ as being ‘4.8% of total
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