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 …
Beat the SDLT deadline
There is a stamp duty land tax (SDLT) deadline on the horizon – from 1 April 2025, there are changes to both the residential SDLT …
FHL – finance and investment cost relief from April 2025
Landlords letting furnished holiday accommodation have hitherto enjoyed a range of tax benefits, including the ability to deduct interest and finance costs in full when …
