Post-cessation expenses – When are they allowable and how?
Sometimes a business may have ceased trading but then receives income that has not been included in the final cessation accounts, e.g. an insurance payment …
HMRC’s increased powers for spotting invisible income
HMRC can enquire into any tax return and request information to establish whether that return is correct. No reasons need be given for the enquiry …
Partnerships – The tax implications of the death of a partner
Partnerships are the only business entities that can be formed by oral agreement, created automatically when two or more persons engage in a business with …
Extension to MTD for ITSA
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced progressively from 6 April 2026. It will require unincorporated traders and landlords …
10 benefits of filing your 2024/25 tax return early
As the 2024/25 tax year has now come to an end, individuals who need to file a Self Assessment tax return for that year can …
Reporting 2024/25 benefits and expenses
Employers who provided taxable benefits and expenses to employees in the 2024/25 tax year need to meet compliance obligations in respect of those benefits. The …
New thresholds for off-payroll working
The off-payroll working rules apply where a worker provides their services to a medium or large private sector company or to a public sector body …
Claiming mileage relief
Employees may pay for the fuel that they use for business journeys undertaken in their own car or in a company car. Often, an employer …
Relief for FHL losses post April 2025
From 6 April 2025 onwards, furnished holiday lettings are treated for tax purposes in the same way as other residential lets, and residential lets and …
ATED returns for 2025/2026
The annual tax on enveloped dwellings (ATED) is a tax that is payable mostly by non-natural persons (mostly companies) owning UK residential property valued at …
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 …
