Mansion tax
A new council tax charge, the High Value Council Tax Surcharge (HVCTS), is to be introduced in April 2028. The charge, dubbed ‘the mansion tax’, …
Property companies and the effect of rise in dividend tax rates
Corporate landlords will not be hit by the property tax rises that will apply to unincorporated landlords from 6 April 2027; they will continue to …
New property tax rates
Unincorporated landlords pay income tax on the profits of their property rental business. This is currently at the normal income tax rates. However, this is …
Do ‘resident cruisers’ pay income tax?
An increasing number of people live on cruise ships. They sell or rent out their main residence and spend their days living on the waves. …
Must the cash basis be used?
For UK unincorporated businesses, the cash basis is now the default method for calculating taxable profits. Under this basis, income is taxed when received and …
The future for invoices and receipts
It is becoming increasingly noticeable that after a purchase is made in a shop or restaurant, the customer is asked ‘Do you want a receipt?’. …
New 40% FYA and reduction in WDAs
A new 40% first-year allowance (FYA) is to be introduced from April 2026. It will apply to main rate expenditure on new assets, excluding cars. …
Benefit in kind changes
As far as benefits in kind are concerned, there were both winners and losers in the Budget. Winner – easement for plug-in hybrid electric vehicles …
The £100,000 cliff edge
All things being equal, receiving a pay rise which takes your income over £100,000 would be seen as a cause for celebration. However, all things …
Changes to ISAs and the savings tax rate on the horizon
During the Chancellor’s Budget speech, savers received the unwelcome news that the rate of tax on savings income is to increase and the cash ISA …
What the hike in the dividend tax rate means for personal and family companies
In her tax-raising Budget on 26 November 2025, the Chancellor announced that the dividend ordinary rate and the dividend upper rate are to rise by …
Tax relief for unpaid rent
In these difficult economic times, tenants may struggle to pay their rent, leaving landlords out of pocket. In the absence of insurance that makes good …
