Blog
Should I sell before the end of the FHL regime?
Furnished holiday lettings currently benefit from a number of capital gains tax reliefs. Read this article to find out whether it would be advantageous to dispose of your FHL before the favourable tax regime comes to an end on 5 April 2025.
Training costs and the self-employed
HMRC have revised their guidance on the deductibility of training costs incurred by the self-employed. Read this article to find out about the new rules.
Advantages of filing your 2023/24 tax return early
Filing your 2023/24 tax return ahead of the 31 January 2025 online filing deadline can be advantageous. Read this article to find out why.
Reform of the High-Income Child Benefit Charge
From 6 April 2024, the High-Income Child Benefit Charge trigger is increased from £50,000 to £60,000. The clawback rate is reduced from the same date. Read this article to find out about these changes and the move to household income from April 2026.
Make the most of your ISA allowance
Read this article to find out how to make the most of your ISA allowance to earn tax-free savings income and also to learn about the new UK ISA.
Employer-provided equipment – Tax implications for employees of working from home
Read this article to discover whether you will pay tax on the computer your employer allows you to use at home
Relief for replacement domestic items
Read this article to find out when you can deduct the cost of replacement domestic items in a residential let in calculating the profits of the property business.
HMRC revise stance on replacement boilers
HMRC have revised their view on the tax treatment of boiler upgrades. Read this article to find out what you need to do if you are now entitled to tax relief for the cost of a boiler upgrade.
Advertising or promotion verses entertainment or hospitality – Which is allowable?
Read this article to ensure that the entertaining or advertising expenses your business is paying are tax deductible
The confusion surrounding the VAT reverse charge
Read this article to make sure you are recording the VAT reverse charge correctly
Which home is the main residence?
Where a taxpayer or a married couple or civil partners have more than one residence they can choose which is their main residence for capital gains tax purposes. Read this article to find when a nomination must be made and when it can be varied.
Is it time to disincorporate?
Read this article to see whether your company should be considering disincorporation as more accounting detail will shortly be made available to the public.
Reporting residential property gains
If you make a chargeable gain on the disposal of a UK residential property, you need to tell HMRC and pay the tax on the gain within 60 days of completion. Read this article to find out how to do this.
Understanding your tax code
Tax codes are fundamental to the operation of PAYE and the right amount of tax will only be deducted from your pay if your tax code is correct. Read this article to find out what your tax code means so you can check that it is correct.
Making use of your inheritance tax allowances
There are various allowances and exemptions for IHT which allow you to make lifetime gifts without them counting as part of your estate for IHT purposes. Read this article to find out how you can take advantage of these.
Check your National Insurance record
A full state pension is only payable if a person has at least 35 qualifying years. Read this article to find out whether it is worth paying voluntary National Insurance contributions to boost your state pension.
Selling online – When do you need to tell HMRC?
If you have a ‘side hustle’ selling online, you may need to tell HMRC if you are trading or if you make a capital gain. Read this article to find out how the rules apply.
Inflationary gains and the CGT trap
There is no capital gains tax relief for inflationary gains. This can trigger a high capital gains tax bill on the sale of an investment property which has been owned a long time. Read this article to find out why.
Boost your income by letting out your spare room
The rent-a-room scheme allows you to earn up to £7,500 tax free each year by letting furnished accommodation in your main home. Read this article to find out how you can benefit.
Calculating the capital gain on the sale of an investment property
In calculating the capital gain or loss on the sale of an investment property you can deduct allowable costs. Read this article to find out what costs can be deducted.