From 6 April 2025, furnished holiday lets are treated in the same way as other lets for tax purposes. Landlords letting both holiday...

Although the end of the tax regime for furnished holiday lettings relieved landlords of the need to keep track of the number of days for...

There is a demand for garage space, particularly from tradespeople who want somewhere to store their tools safely rather than leaving...

Employers have a duty to enrol eligible staff in a pension scheme. Staff are eligible if they are aged between 22 and state pension age...

In an ideal world, everyone’s estate would be distributed according to their wishes. However, where someone dies without making a will,...

The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without...

It is easy to make mistakes when completing your VAT return. However, where mistakes are made, it is important to correct them. This is...

Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so....

Bad debts pose a significant challenge for every business. Staying on top of non-payments is essential for maintaining a healthy cash...

Dividends can only be declared out of a company’s available undistributed profits and even if the bank account is in credit as at the...

In a partnership, the activities are considered to be conducted by the individual partners rather than the partnership itself, as a...

HMRC publish a property rental toolkit which can be used to avoid making common errors when reporting income from property on the Self...

Using a Self Invested Personal Pension (SIPP) to hold commercial property which can be rented to your personal or family company can be...

All good things come to an end, and a property rental business is no exception. However, expenses may be incurred in relation to that...

Adjusted net income is a key measure of income for tax purposes. It is total taxable income before taking account of any personal...

Simple Assessment is used by HMRC to collect tax underpayments from taxpayers with straightforward tax affairs. It removes the need for...

If you are running a business, regardless of whether you operate as a sole trader, in partnership or the business is run as a limited...

There are many possible situations in which a person may make a loan to a family member, for example, a parent may lend money to an adult...

Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners...

Although many companies are facing difficult times, some have managed to accumulate a sizeable amount of cash in their business's current...