Lockdown 2.0 – Can your holiday let still count as a FHL?
Hard on the heels of a series of local lockdowns, England entered into a second national lockdown from 5 November 2020 to 2 December 2020.
December 2, 2020
Tax implications of making loans to directors
Where a family company has cash in the bank but profits have been adversely affected by the pandemic, directors of a family company may wish
November 30, 2020
More time to pay back deferred VAT and Tax
At the start of the pandemic, VAT registered businesses were given the option of deferring payment of any VAT that fell due in the period
November 29, 2020
Latest measures to support jobs
Following the Prime Minister’s announcement that England will enter a national lockdown from 5 November 2020 to 2 December 2020, the Coronavirus Job Retention Scheme,
November 27, 2020
Top tips for choosing the right small business accountant
Small business accountant – Why do you need an accountant? How to choose a small business accountant? Where should you start? We hope that this
November 24, 2020
Getting ready for off-payroll working
Over the past ten years, various steps have been taken to improve the effectiveness of the off-payroll (IR35) rules, with limited success. In April 2017
November 23, 2020
Picking up on van benefits
An income tax charge will generally arise where an employee, or a family member, is able to use a work’s van for private use. This
November 19, 2020
Virtually time for the office Christmas party
Despite the crazy and uncertain times that we find ourselves living in, directors and employees can still celebrate Christmas in tax-free style – even it
November 16, 2020
Rent-a-room relief
The rent-a-room scheme allows those with a spare room in their home to let it out furnished and to receive rental income of £7,500 tax-free
November 12, 2020
Doing up properties – Are you trading?
There can be money to be made buying a property in a dilapidated state, renovating it, and selling it for a profit. However, when it
November 9, 2020
Can you claim business asset disposal relief on the sale of the holiday let?
Furnished holiday lets benefit from a number of tax advantages which are not available to landlords of residential lets. One of the main advantages is
November 5, 2020
Property repairs and maintenance – what can you deduct?
Anyone who owns a property will need to carry out repairs and maintenance from time to time. Where the property is let out, the question
October 23, 2020
Tax implications of student lets
As the new academic year begins, for student starting or returning to university, the 2020/21 academic year looks very different to normal. While many students
October 21, 2020
Exploiting the staycation trend – Buying a holiday let
Those looking to buy an investment property may wish to consider a holiday let. Not only do the second and subsequent homes benefit from SDLT
October 19, 2020
Annual investment allowance – Beware the transitional rules
The annual investment allowance (AIA) was increased from its usual level of £200,000 to £1 million for the two-year period from 1 January 2019 to
October 17, 2020
Employees, can you claim tax relief for expenses of working from home?
The Covid-19 pandemic has meant that more employees worked from home than ever before. This trend looks set to continue following the Government’s latest advice
October 15, 2020
Employment allowance – Have you claimed it?
The National Insurance employment allowance enables eligible employers to reduce the amount of employer’s National Insurance that they pay over to HMRC. The allowance, which
October 13, 2020
Paying back deferred VAT
At the start of lockdown, the Government announced a number of measures to help businesses weather the pandemic. One of those measures was the option
October 11, 2020
Homeworking equipment and returning to the office
Before the Government U-turn, many employees had started to return to office-based jobs. Where the employee had previously worked from home and had been provided
October 9, 2020
Paying family members
Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including
October 7, 2020