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 ...

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 ...

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?

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 ...