HMRC are sending one-to-many ‘nudge’ letters to taxpayers who included an invalid claim for gift hold-over relief in their 2021/22 tax return. This may be
Workers are entitled to be paid the National Living Wage (NLW) or Minimum Wage (NMW) for their age. Employers who fail to do this run
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where the claimant or his or her partner have adjusted
The Bank of England has warned businesses and households that the cost of borrowing will remain high for at least the next two years and
Voluntary disclosure involves individuals or businesses coming forward to inform HMRC of any errors or omissions in their tax returns, unpaid taxes or any other
The decision to acquire a business asset, be it a van or any other type of machine, will generally depend on how it is intended
Recent tax changes, in particular the interest restriction for unincorporated property businesses with residential lets, have resulted in more landlords operating via a property company.
Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs, factories, guest houses and holiday lets. Business
Where an individual realises a chargeable gain on the disposal of a UK residential property, they must report the gain to HMRC within 60 days
Earlier this year, HMRC sent ‘nudge’ letters to social influencers who they suspect may not have declared the tax that they owe. They have also
Owners of personal and family companies frequently pay themselves a small salary and extract further profits as dividends. To utilise the unused personal and dividend
The end of a business will not necessarily mean that no further expenses are incurred. Where expenses are incurred after the business has ceased, tax
If you have a company that is dormant and you have filed your company tax return showing that no tax is due, you may think
The profitability or earning capacity of a business may depend on one person or on a small number of people. Where this is the case,
Many taxpayers taxed under self assessment may not be aware that HMRC self assessment phone service was closed for three months, opening on 4 September.
Despite dividend tax rates being charged at 33.75% (higher rate taxpayers) or 39.35% (additional rate taxpayers), generally dividends remain the most tax-efficient method of taking
VAT registration is compulsory for any UK established persons who are in business and make or intend to make taxable supplies should either one of
If you make a chargeable gain on the sale of a UK residential property, you will need to report the gain to HMRC within 60
The property allowance is a useful allowance that allows you to earn property income of up to £1,000 tax-free each tax year. If your income
Main residence relief is a valuable relief which prevents a tax charge arising where a gain is realised on the disposal of a property which
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