In a furnished let, wear and tear of domestic items is inevitable and there will come a time when the landlord will need to provide
Last year apart, the number of tax enquiries is on the increase; the reason is not because more taxpayers are seeking to defraud the tax
The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more and if all of
You must register your business for VAT if your VAT taxable turnover exceeds the registration threshold. This is currently £85,000. You must register if: at
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow resources to be diverted to other activities, such as administering
Under real time information (RTI), employers are required to report pay and deductions information to HMRC ‘at or before’ the time that the payment is
If you sell a property that has not been your main residence throughout the period that you have owned it, you may need to pay
All taxpayers have a responsibility to complete their tax returns correctly, to the best of their ability. However, inevitably, mistakes occur which may not be
The vast majority of businesses pay their tax bills on time however, any that are finding it hard to make payment in full and/or on
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide whether they are
Where a close company (or LLP) makes a loan (otherwise than in the ordinary course of a business) to an individual who is a participator
Expenses and benefits returns P11D and P11D (b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties
Where assets that have become worthless, it may be possible to make a negligible value claim, allowing a loss to be realised which can be
Dividends can only be declared out of a company’s available undistributed profits, and if the payments are to be legal then the correct administrative procedures
Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the ‘average value’ price (referred to as the ‘Average Value
Where a close company (or LLP) makes a loan (otherwise than in the ordinary course of a business) to an individual who is a participator
Expenses and benefits returns P11D and P11D (b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties
Where assets that have become worthless, it may be possible to make a negligible value claim, allowing a loss to be realized which can be
A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. This can be useful
Furnished holiday lettings offer a number of tax advantages over longer lets. One of the key benefits is the availability of capital gains tax reliefs
