invisible income
HMRC’s increased powers for spotting ‘invisible income’
HMRC can enquire into any tax return and request information to establish whether that return is correct. No reasons need be given for the enquiry
May 24, 2025
Tax Implications
Partnerships – The tax implications of the death of a partner
Partnerships are the only business entities that can be formed by oral agreement, created automatically when two or more persons engage in a business ‘with
May 23, 2025
Finance & Accounting>Furnished Holiday Letting
Holiday lets – Business rates or council tax?
Landlords letting holiday accommodation may be able to pay business rates rather than council tax on their property. This will generally be cheaper, and if
May 20, 2025
SDLT
SDLT and linked transactions
Special rules apply for stamp duty land tax (SDLT) purposes where there is more than one sale and purchase between the same buyer and seller.
May 18, 2025
Property Business
Incorporating your property business
Running a property business through a limited company has become increasingly popular, not least because the rate of corporation tax paid on profits will generally
May 16, 2025
Making Tax Digital
Extension to MTD for ITSA
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced progressively from 6 April 2026. It will require unincorporated traders and landlords
May 14, 2025
Finance & Accounting>Tax Return
10 benefits of filing your 2024/25 tax return early
As the 2024/25 tax year has now come to an end, individuals who need to file a Self Assessment tax return for that year can
May 12, 2025
Companies House
How to Register with Companies House in the UK: A Step-by-Step Guide
Starting your own company in the UK? One of the first steps is registering with Companies House the UK’s official company register. Whether you’re setting
May 11, 2025
Taxable expenses and benefits
Reporting 2024/25 benefits and expenses
Employers who provided taxable benefits and expenses to employees in the 2024/25 tax year need to meet compliance obligations in respect of those benefits. The
May 8, 2025
Mortgage Interest Relief
Mortgage Interest Relief in the UK: What Landlords Need to Know
If you rent out residential property in the UK, it’s important to understand how mortgage interest is treated for tax purposes, especially since key changes
May 6, 2025
Payroll
New thresholds for off-payroll working
The off-payroll working rules apply where a worker provides their services to a medium or large private sector company or to a public sector body
May 5, 2025
VAT De-Register
How to De-register for VAT in the UK: A Simple Guide
If your business is no longer required to be VAT-registered, or if you’re winding things down, you might consider cancelling your VAT registration with HMRC.
May 4, 2025
Finance & Accounting>Company Car
Claiming mileage relief
Employees may pay for the fuel that they use for business journeys undertaken in their own car or in a company car. Often, an employer
May 3, 2025
April Tax Hike
Smart Ways to Beat the April Tax Hike in the UK?
Every new tax year brings changes and from April, many UK taxpayers may see a larger slice of their income going to HMRC. But with
April 30, 2025
Double Cab Pickup
Double Cab Pickup Tax Shake-Up from 6 April 2025?
From 6 April 2025, HMRC is changing the way Double Cab Pickup trucks (DCPUs) are treated for tax purposes in the UK. These updates will
April 29, 2025
Limited Company Pay for Health Insurance
Can a Limited Company Pay for Health Insurance in the UK?
If you run a limited company, you may be wondering whether your business can cover the cost of private health insurance for you or your
April 25, 2025
SA302 And Tax Year Overview
Step By Step Guide To Download Your SA302 And Tax Year Overview For Mortgage Purposes
If you’re self-employed or submit a Self Assessment tax return, you may be asked for your SA302 and Tax Year Overview especially when applying for
April 23, 2025
Tax Implications
Investing in woodlands Tax implications of an unusual type of investment
Drive along a country road and you may come across signs advertising ‘Woodlands for sale’. Such signs invite investment in commercial woodlands which can come
April 12, 2025
Making Tax Digital
MTD – A time to incorporate?
After years of deferral, the long-anticipated Making Tax Digital (MTD) for Income Tax start date has finally been confirmed. This is a significant development that
April 11, 2025
Finance & Accounting>Furnished Holiday Letting
Relief for FHL losses post April 2025
From 6 April 2025 onwards, furnished holiday lettings are treated for tax purposes in the same way as other residential lets, and residential lets and
April 10, 2025