Timing dividends right could help save tax Timing the date of a dividend payment from a company can determine both the amount and the due
Are low emissions cars tax efficient? Significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs).
Non-residents landlord scheme A non-resident landlord is a landlord who lets out property in the UK but spends more than six months in the tax
Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is
Using the property rental toolkit to avoid common errors in returns HMRC’s property rental toolkit highlights errors commonly found in tax returns in relation to
Student loan deductions Employers fulfil many collection roles for HMRC, one of which is the collection of student loan repayments. There are now three types
Penalties for late self-assessment returns The normal due date for a self-assessment return where filed online is 31 January after the end of the tax
Getting ready for off-payroll working changes From 6 April 2020 the off-payroll working rules that have applied since 6 April 2017 where the end client
Tax-free mobile phone Mobile phones are ubiquitous – they are also subject to a tax exemption which enables employees to enjoy a mobile phone provided
Electricity for electric cars – a tax-free benefit The Government is keen to encourage drivers to make environmentally friendly choices when it comes to choosing
Managing a rental business from home A landlord will often manage their property rental business from home, and in doing so will incur additional household
Property partnerships A person may own a property jointly that is let out as part of a partnership business. This may arise if the person
Rental deposits A landlord will usually take a deposit from a tenant when letting a property to cover the cost of any damage caused to
Dividend complexities The dividend allowance, which was originally introduced from 6 April 2016, was cut from £5,000 a year to £2,000 from 6 April 2018.
Simplified expenses for smaller businesses Certain unincorporated small businesses may choose to use the ‘cash basis’ when calculating taxable income, under which participants are taxed
Just starting outAs long as HMRC can be satisfied that a business is being run on a commercial basis with a view to making a
Furnished holiday lettings – is it worth qualifying? When it comes to taxing rental income, not all properties are equal. Different rules apply to properties
Stamp duty land tax on non-residential properties Stamp duty land tax (SDLT) is payable in England and Northern Ireland on the purchase of property over
Annual tax on enveloped dwellings The annual tax on enveloped dwellings (ATED) is a tax that applies, in the main, to companies owning residential property
Give from income to save inheritance tax Within a family scenario, there are many situations in which one family member may make a gift to
