Are you running a business or a hobby?
Many digital platforms and online marketplaces in the UK, such as eBay, typically consider a seller to be a trader if they list items frequently …
Free fuel – Is it a worthwhile benefit?
Many employees see being allowed the use of their own company car as acknowledgement of their status in a company. While the employee will be …
Keeping digital records for Making Tax Digital
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will apply from 6 April 2026 to sole traders and unincorporated landlords with combined trading …
How can sole traders obtain relief for trading losses?
In difficult trading conditions, a sole trader may realise a loss rather than a profit. Where this is the case, it is important that the …
Tax implications of reimbursing employee expenses
Employees often incur expenses in doing their job and they may be able to claim these back from their employer through the expenses system. Where …
Claiming a tax refund
It is reasonable to assume that if a person pays too much tax, HMRC will automatically send the overpayment back to them. Unfortunately, this is …
Capital gains tax annual exempt amount – Use it or lose it!
The 2025/26 tax year comes to an end on 5 April 2026. If you are thinking of selling assets that may realise a gain and …
Non Resident Self Assessment Tax Return London
UK Tax Support for Overseas Individuals with UK Income in London You might not live in the UK.You might not even set foot in London …
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. …
