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...

Tax bills need to be paid on time otherwise interest and possibly penalties will accrue. HMRC is amenable to payment by instalments under...

The hot weather often brings thoughts of holidays, but for those in business, work is always on the mind. So, what is the tax position if...

Many businesses strive to keep their turnover under the VAT registration limit (currently £90,000) because not only are they wary of the...

For most employees, National Insurance contributions (NIC) earnings periods are calculated based on their regular pay intervals. In...

For many of HMRC's 'customers' who have spent more than 30 minutes trying to get through on the phone, the thought of making a formal...

Employers are able to provide employees with a range of health and welfare benefits without giving rise to a tax charge under the...

Self-employed earners whose earnings exceed the lower profits limit (set at £12,570 for 2025/26) must pay Class 4 National Insurance...

There are various ways to enjoy savings income without paying tax on it. In addition to the personal allowance, basic and higher rate...

In a post on X, HMRC recently warned taxpayers ‘not to get caught out by ads promising quick refunds for working from home’, urging...

Employer’s National Insurance rose considerably from 6 April 2025. Not only did the rate increase from 13.8% to 15%, but the secondary...

Profits arising from land or property are treated as arising from a property business. For tax purposes, profits from land and property...

The favourable tax regime for furnished holiday lettings (FHLs) came to an end on 5 April 2025. For 2025/26 and later tax years,...

The property allowance enables individuals to enjoy property income of up to £1,000 each tax year free of tax and without the need to...

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...