Emergency tax codes
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax-free personal allowance. The tax ...
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Settlement legislation – non-trust settlements
The settlement legislation seeks to ensure that where a settlor has retained an interest in property that the income arising ...
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Construction services taxed at VAT zero or 5% rate
Whilst most businesses in the UK charge VAT at the standard rate of 20%, there are a number of different ...
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Business records if self-employed
If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep ...
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Tax relief on replacement of domestic items
The replacement of domestic items relief has been in place since April 2016. The relief allows landlords the ability to ...
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Gifts with reservation
The majority of gifts made during a person's life are not subject to tax at the time of the gift ...
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Entitlement to National Minimum Wage
Employers must ensure they are paying staff the new National Minimum Wage (NMW) and National Living Wage (NLW) rates for ...
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Non-resident company taxation
Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made ...
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Qualifying for residence nil rate band
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) ...
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Tax when you get your pension
There are special rules which allow individuals who have set up private pension scheme(s) to benefit from significant tax reliefs ...
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Applying for Marriage Allowance
The marriage allowance can be claimed by married couples and those in a civil partnership where a spouse or civil ...
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NIC threshold increased
In the Spring Statement earlier this year, the then Chancellor, Rishi Sunak, announced an NIC tax-cut to take effect from ...
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Joining the MTD ITSA pilot
Some businesses and agents are already keeping digital records and providing updates to HMRC as part of a live pilot ...
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Furnished Holiday Lets and VAT
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a ...
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Filing and paying company tax returns
If you have recently setup a new limited company or are thinking of doing so then one of the areas ...
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Old style £20 and £50 notes
The Bank of England will be withdrawing legal tender status of paper £20 and £50 banknotes after 30 September 2022 ...
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Tax gap remains at 5.1%
The tax gap for the 2020-21 tax year has been published and remains at 5.1%. This is the second lowest ...
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Changes at HM Treasury
Last week saw the resignation of the previous Chancellor Rishi Sunak from the Government. The previous Chancellor said he could ...
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