Are you exempt from MTD for ITSA?
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is mandatory from 6 April 2026 for self-employed traders and landlords whose combined gross …
Using the advisory fuel rates
HMRC publish fuel-only rates which are only of relevance where an employee has a company car. The rates, which are updated quarterly, can only be …
Overdrawn directors’ loan accounts and section 455 tax
A director’s loan account is simply a means of keeping track of transactions between the director and the company of which they are a director. …
Correcting errors in VAT returns
It used to be possible to report errors in a VAT return to HMRC on form VAT652. This is no longer the case; form VAT652 …
Utilising the tax exemption for Christmas parties
Many employers have a social event for employees around the Christmas period. This may take the form of a Christmas party or dinner or another …
Community infrastructure levy
The Sunday Times’ property supplement has recently highlighted cases of homeowners who have extended their properties and been caught out by the community infrastructure levy …
Tax relief for costs of updating a property prior to letting
When a landlord buys a new property to let out, they may need to undertake some work prior to the first let, particularly if the …
Can you claim tax relief for costs incurred while the buy-to-let is on the market?
In light of the erosion of landlords’ rights in the Renters’ Rights Bill, together with a raft of adverse tax changes in recent years, many …
CIS deductions – Applying the correct percentage
The Construction Industry Scheme (CIS) is a tax deduction scheme requiring contractors to deduct tax from payments made to subcontractors working in the construction industry. …
VAT registration waiver Â
HMRC requires businesses to register for VAT if their taxable turnover exceeds £90,000 in the last 12 months or is expected to exceed this threshold …
What is e-invoicing?
The 2025 Budget on 26 November 2025 is expected to be crucial for the long-term implications for the UK economy – announcements of tax increases …
Calculating corporation tax marginal relief
The rate at which a company pays corporation tax depends on the level of its taxable profits. Where a company’s profits are below the lower …
