Blog

All About The Landlord Borrowing Trap

Some landlords are finding themselves with growing tax bills and are being forced to sell properties ...

Taxation Of Serviced Accommodation

Buy-to-let landlords are looking to convert their traditional buy-to-let properties into serviced accommodation ...

An Accountant Or A Tax Advisor

Accountants are the mainstay of the business world, but not everyone has a tax advisor. I think they're missing out ...

Wishing You All A Very Merry Christmas

With most of us finishing for the holidays this week, I thought I'd join the festivities and let you have some tax trivia ...

Changes To Inheritance Tax Reporting Requirements

For anyone who dies on or after the 1st of January 2022, Inheritance Tax reporting requirements are simplified ...

Closing A Stamp Duty Land Tax Loophole

HMRC published a consultation in November proposing changes to areas of the Stamp Duty Land Tax regime ...

Why Should You Use A Property Tax Advisor?

A question I get asked is why people should use a property tax advisor rather than their own accountant ...

Treating Your Staff And Customers At Christmas

Christmas is fast approaching, and many business owners think about treating their staff and customers at this time of year ...

HMRC Are Sending Nudge Letters About Cryptocurrency

If you've recently received communication from HMRC regarding cryptocurrency, don't ignore it ...

Are You Behind With Your Tax Bills?

As the economy continues to grow, we can expect to see a sea change in how HMRC approaches tax debt ...

CGT Filing Deadline Extended To 60 Days

The Government has extended the deadline for submission of a Capital Gains Tax return from 30 to 60 days ...

Inheritance Tax: Gifts Out Of Income A Very Valuable Relief

Out of all the tax reliefs and exemptions, probably the most generous of them all is this Inheritance Tax exemption ...

HMRC Is Collecting Information On You!

HMRC has many different sources of information that it can use to compile information about every UK taxpayer ...

Increase In The Taxation Of Dividends

For many years, dividends have been taxed at a lower rate. This means taking a small salary and then dividends on top ...

Important Changes To The Reporting Of Non-Taxable Trusts

New rules mean that Non-Taxable Trusts can register via HMRC's Trust Registration Service, and the deadline has been set ...

Expat Landlords Disclose Undeclared Rental Income

There are many expat landlords who moved from the UK and have let out their UK property without declaring income ...

The Benefits Of Company Pension Contributions

If you're looking to extract profits from your limited company, salary and dividends are the usual way to go ...

Overview Of The Health And Social Care Levy

The controversial Health and Social Care Levy was passed by MPs last week. Many politicians are calling it the Care Tax ...

Inheritance Tax Residence Nil-Rate Band

Many people are not aware of the Residence Nil-Rate Band for Inheritance Tax. This is a very valuable relief ...

Methods HMRC Uses To Find Out About Rental Properties

One of the commonest questions I get asked about rental properties is how HMRC will discover a landlord's income ...

Capital Gains Tax: What Is Classed As Residential Property?

Changes to taxes over the years mean the tax treatment of residential property and commercial property is different ...

Private Residence Relief And Eligible Periods Of Absence

Many homeowners pay Capital Gains Tax on the sale of their property, but you can claim Private Residence Relief ...

HMRC Tax Penalties Are About To Change

HMRC is changing the way it calculates tax penalties to make things fairer and more consistent ...

Basis Periods To Be Abolished Due To Making Tax Digital

If your business is unincorporated, you may see a bumper tax bill in 2022/23 as your accounts are adjusted ...

HMRC Enquiries: What To Do When They Get In Touch!

I don't think anyone looks forward to a conversation with HMRC as their enquiries are both inconvenient and stressful ...

Dividend Payments During The Pandemic

Did you know that paying yourself illegal dividends means you could become personally liable for company liabilities?

Failure To Report SEISS Grants Correctly Causing Delays

According to HMRC, a number of Self-Assessment tax returns for the 2020/21 tax year contain inconsistencies ...

IT Contractor Loses Latest IR35 Case

An IT contractor providing services to a building society was ordered to stump up £74,523 in Income Tax and NI ...

Should You Set Up A Trust Or Family Investment Company?

If you're estate planning right now, you could be considering a Family Investment Company over a Family Trust ...

Reviewing Your PAYE Settlement Agreement For COVID-19

Employers meet the tax on benefits and expenses for an employee using a PAYE Settlement Agreement ...

P11D: Focus On Staff Entertaining

Accountants are noticing an increasing number of enquiries from HMRC about the amounts spent on entertaining staff ...

What CGT Is Payable On The Sale Of A Property Post-Death?

CGT has a tax-free uplift to a property's valuation on the sale of a property post-death. The value for CGT is reset ...

Why Didn't The Annexe Qualify As A Separate Dwelling?

A tribunal considered whether a 6-bed home with annexe should be treated as one for Multiple Dwellings Relief ...

Period Of Grace Elections For Furnished Holiday Lettings

When a property qualifies as a Furnished Holiday Letting (FHL), they become subject to special tax rules ...

The Non-Resident Test For Employees Stranded In The UK

Trade bodies have consulted with the Treasury on difficulties faced by those stranded in the UK during the pandemic ...

Treasury Consultation On New Property Developer Tax

The Property Developer Tax was announced when the Government pledged to fund cladding replacement ...

Remember To File Your Employment Related Securities Return

The submission deadline for your company's Employment Related Securities return is fast approaching ...

COVID Loss Relief Carry Back Extension

A welcome extension of loss relief carry-back for companies, sole traders and partnerships has been announced ...

Investors' Relief: Attracting Investment Into Business

For shares acquired from the 17th of March 2016, Investors' Relief ensures investors pay 10% Capital Gains Tax ...

HMRC Sends Out Self-assessment Verification Letters

Some taxpayers are receiving self-assessment verification letters from HMRC requesting more information ...

How A Cryptocurrency Is Taxed In The United Kingdom

You need nerves of steel to invest in a cryptocurrency. You also need to know how cryptocurrency is taxed in the UK ...

Stamp Duty Land Tax On Uninhabitable Properties

Another day, another taxpayer at a tribunal. This time, due to the purchase of a dilapidated bungalow ...

End Of Year Tax Planning Checklist

As we approach the end of the current tax year, it's worth giving some consideration to end of year tax planning ...

Capital Gains Tax On Divorce

Are you going through a divorce? Be conscious of the Capital Gains Tax consequences of your split ...

What Are The Benefits Of An Employer-Provided Electric Car?

Many commercial travellers have a company car which tend to be changed every 18 months, depending on mileage ...

ATED: Annual Tax On Enveloped Dwellings Deadline

Are you due to submit your Annual Tax on Enveloped Dwellings (ATED) soon? You may need to even with no tax due ...

Update On SDLT For Non-Residents Buying UK Property

HMRC has updated its information about the Stamp Duty Land Tax (SDLT) surcharge for non-residents ...

The Delayed Domestic Reverse Charge For VAT

I originally wrote about the Domestic Reverse Charge For VAT back in 2019, but it was delayed until this year ...

HICBC: The High Income Child Benefit Charge Threshold

A Low Incomes Tax Reform Group in the UK, has urged the Government to raise the HICBC threshold ...

HMRC Suspends Filing Penalties Until 28 February

HMRC has announced a last-minute change to filing tax returns benefitting up to 3 million individuals ...