Sometimes a business may have ceased trading but then receives income that has not been included in the final cessation accounts, e.g. an...

HMRC can enquire into any tax return and request information to establish whether that return is correct. No reasons need be given for...

Partnerships are the only business entities that can be formed by oral agreement, created automatically when two or more persons engage...

Landlords letting holiday accommodation may be able to pay business rates rather than council tax on their property. This will generally...

Special rules apply for stamp duty land tax (SDLT) purposes where there is more than one sale and purchase between the same buyer and...

Running a property business through a limited company has become increasingly popular, not least because the rate of corporation tax paid...

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced progressively from 6 April 2026. It will require...

As the 2024/25 tax year has now come to an end, individuals who need to file a Self Assessment tax return for that year can now do so....

Employers who provided taxable benefits and expenses to employees in the 2024/25 tax year need to meet compliance obligations in respect...

The off-payroll working rules apply where a worker provides their services to a medium or large private sector company or to a public...

Employees may pay for the fuel that they use for business journeys undertaken in their own car or in a company car. Often, an employer...

Drive along a country road and you may come across signs advertising 'Woodlands for sale'. Such signs invite investment in commercial...

After years of deferral, the long-anticipated Making Tax Digital (MTD) for Income Tax start date has finally been confirmed. This is a...

HMRC’s rules state that expenditure on business entertainment or gifts cannot be claimed as a deduction against profits (and therefore...

From 6 April 2025 onwards, furnished holiday lettings are treated for tax purposes in the same way as other residential lets, and...

The annual tax on enveloped dwellings (ATED) is a tax that is payable mostly by non-natural persons (mostly companies) owning UK...

The way that many landlords will report details of their income and expenses to HMRC is changing from April 2026 onwards. This is when...

If as an employer you provided employees with taxable expenses and benefits in the 2024/25 tax year, you will need to ensure that you...

Employees with a company car available for their private use pay tax on the benefit. The amount that is charged to tax is a percentage of...

The official rate of interest is a rate set by HMRC which is used to calculate the benefit in kind tax charge on cheap employment-related...