Looking ahead to MTD for landlords
The way that many landlords will report details of their income and expenses to HMRC is changing from April 2026 onwards. This is when Making …
Investing in woodlands – Its Tax implications
Drive along a country road and you may come across signs advertising ‘Woodlands for sale’. Such signs invite investing in woodlands, which can come with …
MTD – A time to incorporate? Â
After years of deferral, the long-anticipated Making Tax Digital (MTD) for Income Tax start date has finally been confirmed. This is a significant development that …
Business entertainment – when can you claim?
HMRC’s rules state that expenditure on business entertainment or gifts cannot be claimed as a deduction against profits (and therefore also non-VAT deductible), even if …
Reporting 2024/25 taxable expenses and benefits
If, as an employer, you provided employees with taxable expenses and benefits in the 2024/25 tax year, you will need to ensure that you meet …
Taxation of company cars in 2025/26 and beyond
Employees with a company car available for their private use pay tax on the benefit. The amount that is charged to tax is a percentage …
Official rate of interest
The official rate of interest is a rate set by HMRC which is used to calculate the benefit-in-kind tax charge on cheap employment-related loans, and …
Pension savings in 2025/26
Putting money into a registered pension scheme can be tax-efficient. Individuals can make contributions in their own right, or even for someone else, and employers …
How important is it to keep receipts?
When you buy an item in a shop, you will be asked whether you want a receipt. Although a receipt provides useful evidence of purchase, …
Have you used your CGT annual exempt amount?
Individuals have a separate tax-free allowance for CGT purposes – the CGT annual exempt amount. Although it has been reduced considerably in recent years and …
Should we pay a dividend before the end of the tax year?
If you are the owner of a personal or family company, it is prudent to review your dividend strategy before the 2024/25 tax year comes …
Reporting residential property gains
Owners of investment properties and second homes may decide to sell up for a variety of reasons. They may wish to take advantage of a …
