Property Business
UK and overseas property businesses
Profits arising from land or property are treated as arising from a property business. For tax purposes, profits from land and property in the UK
June 21, 2025
Finance & Accounting>Furnished Holiday Letting
Jointly owned holiday lets – Should you make a Form 17 election?
The favourable tax regime for furnished holiday lettings (FHLs) came to an end on 5 April 2025. For 2025/26 and later tax years, furnished holiday
June 20, 2025
Property Income
Enjoy £1,000 of property income tax-free
The property allowance enables individuals to enjoy property income of up to £1,000 each tax year free of tax and without the need to report
June 19, 2025
Non Resident Landlord Scheme
How the Non-Resident Landlord Scheme Works in the UK
If you’re a landlord living abroad and renting out property in the UK, the Non-Resident Landlord (NRL) Scheme is something you must be aware of.
June 18, 2025
Tax Free Health And Welfare Benefits
Five tax-free health and welfare benefits
Employers are able to provide employees with a range of health and welfare benefits without giving rise to a tax charge under the benefits in
June 17, 2025
Trading Allowance
How the Trading Allowance Works for UK Side Hustles
If you earn a bit of extra income on the side, from freelancing, selling crafts online, or tutoring, you may be able to benefit from
June 14, 2025
Finance & Accounting>National Insurance
Should you pay voluntary Class 2 National Insurance?
Self-employed earners whose earnings exceed the lower profits limit (set at £12,570 for 2025/26) must pay Class 4 National Insurance contributions on their profits. These
June 11, 2025
Savings Income
Taxation of savings income in 2025/26
There are various ways to enjoy savings income without paying tax on it. In addition to the personal allowance, basic and higher rate taxpayers benefit
June 9, 2025
Finance & Accounting>Director’s Loan Accounts
Directors’ Loan Accounts Explained: Rules, Risks & Tax
As the director of a limited company, it’s common to use personal funds for business needs or even borrow money from the business for personal
June 8, 2025
Relief for additional expenses
Relief for additional expenses of working from home
In a post on X, HMRC recently warned taxpayers ‘not to get caught out by ads promising quick refunds for working from home’, urging taxpayers
June 7, 2025
Foreign Income and Gains
Important Tax Changes for Non-Domiciled Individuals – From 6 April 2025
The UK government is making big changes to how foreign income and gains are taxed. These changes mainly affect people who were previously classed as
June 6, 2025
Inherited Property
Selling an Inherited Property? Here’s How to Minimise Your CGT
Inheriting a property in the UK can be both a financial gain and a tax challenge. While you won’t immediately owe tax upon inheritance, Capital
June 4, 2025
Finance & Accounting>Employment Allowance
Employ a worker on a small salary to access the employment allowance
Employer’s National Insurance rose considerably from 6 April 2025. Not only did the rate increase from 13.8% to 15%, but the secondary threshold also fell
June 2, 2025
post cessation expenses
Post-cessation expenses – When and how are they allowable?
Sometimes a business may have ceased trading but then receives income that has not been included in the final cessation accounts, e.g. an insurance payment
May 27, 2025
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