Furnished holiday lettings are generally liable to business rates rather than council tax. This can be very beneficial, particularly where the landlord only has one
Under English law, there are two ways in which property can be owned jointly – as joint tenants or as tenants in common. The way
As far as National Insurance was concerned, the 2022/23 tax year was a tricky one featuring in-year changes to the primary threshold and in-year changes
Changes to the corporation tax regime come into effect from 1 April 2023 – the start of the financial year (FY) 2023. From that date
In an alphabet share structure, each shareholder has a different class of share. For example, one shareholder may have A ordinary shares, another B ordinary
The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance
If you have paid too much tax, you will be able to get a refund from HMRC. The mechanics for obtaining your refund depending on
Taking on a renovation project can be hugely appealing, particularly if the property is subsequently sold at a profit. However, from a tax perspective, it
The Annual Tax on Enveloped Dwellings (ATED) is an annual tax payable on residential property valued at more than £500,000 which is held by a
If you let a furnished property, it is very likely that you will need to replace domestic items from time to time. A specific relief
In March last year, the government published a White Paper setting out its final position on reforming Companies House ahead of introducing legislation. The big
Tax repayment claims are usually made via the submission of a tax return. The time limit for amending a return (whether individual or company) is
Post-pandemic, many businesses are finding that their trading circumstances have changed such that the non-standard VAT scheme under which the business is registered is no
A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is
As part of the move to Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), the basis period rules are being reformed. Despite the
To encourage pension savings, tax relief is available on contributions made to registered pension schemes. However, there are limits on the contributions that can qualify
For a brief period it seemed that the days were numbered for the additional rate of tax following the announcement in the ill-fated mini Budget
Directors’ loans can be tricky from a tax perspective. Specific tax charges apply where loans to director shareholders of close companies (broadly those under the
Property is generally a good investment, and where an investment property or second home has been held for many years, it may be worth considerably
Furnished holiday lettings have tax benefits that are not available to landlords of residential lets. However, to qualify as a holiday let, certain conditions must
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