Cash basis for landlords
As for unincorporated trading businesses, the cash basis is the default basis of accounts preparation for landlords running an unincorporated property business. However, unlike traders, …
Extracting profits as rent
Where a business is run through a personal or family company, the directors/shareholders will need to extracting profits if they are to be used personally. …
Utilising the property allowance
Utilising the property allowance The property allowance is essentially an additional personal allowance for income from property. It allows individuals to enjoy property income of …
Associated companies
Over time, companies or associated companies may accumulate substantial cash reserves. Whilst funds are commonly extracted through salary, dividends or pension contributions, another possibility is …
Alphabet shares – A way to reduce tax
When a company pays a dividend, all shareholders holding the same class of shares must receive dividends in proportion to their shareholdings. To pay dividends …
Alternative dispute resolution
The first indication a taxpayer may receive that they are the subject of a tax enquiry or investigation is a letter from HMRC, often headed …
Reclaiming the cost of statutory payments
Employers must make statutory payments to employees who meet the eligibility criteria. This includes statutory maternity pay (SMP), statutory paternity pay (SPP), statutory adoption pay …
Using the advisory fuel rates 2026
HMRC publish mileage rates for petrol, LPG and diesel and electric cars. The rates are known as the advisory fuel rates and are updated quarterly …
Relief for homeworking expenses
Where an employee works at home, they may incur additional homeworking expenses as a result, such as additional heating and lighting costs, the cost of …
Writing off a director’s loan
In a personal or family company, there are often transactions between the company and the director(s). For example, the company may meet personal expenses on …
Escaping the HICBC
The High Income Child Benefit Charge (HICBC) is a tax which claws back child benefit where the recipient or their partner has adjusted net income …
Reporting income from FHLs in the 2025/26 tax return
The special tax regime for reporting income from FHLs ( furnished holiday lettings came to an end on 6 April 2025 )From that date, furnished …
