HMRC has not been getting good press lately. Time spent waiting for a tax refund, an answer to a letter or for over an hour on the...

If you have room on your drive, you may be able to earn additional income by letting out one or more parking spaces. This can be done...

The interest restriction for landlords letting residential property on long lets, the proposed abolition of the favourable furnished...

Landlords with furnished holiday lettings (FHLs) face an uncertain future. At the time of the Spring 2024 Budget, it was announced that...

If you make donations to charity, you can benefit from tax relief on those donations. This can be achieved in various ways. Gift Aid If...

The way in which you operate your business determines the taxes that you pay and also your reporting obligations. If you work for...

To qualify for a full state pension, you need 35 qualifying years. You can earn these through paying National Insurance contributions or...

For many people, there will come a time when it becomes sensible or necessary to sell the family home, either to downsize or because of a...

The fall in the dividend allowance in recent years may mean that you now need to pay tax on your dividend income for the first time. The...

Many directors believe they have an absolute right to monies deposited in a company's bank accounts. However, payment cannot just be...

With interest rates falling, business growth should follow. While this is waiting to happen, companies continue to close. The latest...

Just because an employee receives a lump sum on leaving does not necessarily mean the payment is exempt from tax under the £30,000...

In most cases, a higher rate of stamp duty land tax (SDLT) applies to the purchase of second and subsequent residential properties in...

A person who buys a new home from a property developer does not have to pay VAT on it as the sale is zero-rated. However, a person who...

Private residence relief is a valuable capital gains tax relief which means that a person does not have to pay capital gains tax on any...

The deadline for filing your 2023/24 Self Assessment tax return online is 31 January 2025. An earlier deadline of 30 December 2024...

The nil rate band is the amount that a person may leave free of inheritance tax. Each person has their own nil rate band, which for...

HMRC have revealed that every year lots of simple errors are made in tax returns in relation to capital gains tax which result in the...

Up to certain limits, it is possible to enjoy some savings income tax-free. The extent to which this is possible depends on the rate at...

For 2024/25 and later tax years, unless they elect otherwise, unincorporated businesses must prepare their accounts and calculate their...