Missing years for home responsibilities protection?
Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after 6 April 2016, …
File tax return by 30 Dec to pay via PAYE
If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a …
Setting up as a sole trader
When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a …
Overdrawn Director’s Loan – Must Your Company Pay Tax?
In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the …
Autumn Budget 2024 Highlights
As the days get shorter and the chill sets in, the Autumn Budget for 2024 has arrived! This year’s budget brings a variety of significant …
Start of a property rental business
A property rental business will have a start date, and it is important to know when this is. A landlord will normally undertake some preparatory …
Using a property company for FHL
The current tax regime for furnished holiday lettings (FHL) has several advantages, including the ability to deduct interest and finance costs in full when calculating …
UK tax treatment of rent from overseas properties
A person who is resident and domiciled in the UK is liable to UK tax on rent from overseas properties. Consequently, if they have overseas …
Tax implications on home office
Following the pandemic, flexible working hours are on the increase. This shift has provided many employees with the legal right to request flexible working from …
Tax relief for trading losses
A sole trader or partnership business may make a loss for several reasons – not necessarily because it is not doing well. A business can …
Restarting child benefit claims
Many parents who fell within the ambit of the High Income Child Benefit Charge (HICBC) opted not to receive child benefit, rather than to receive …
Should you dispose of old documents?
Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have increased. HMRC generates substantial revenue …
