Should you pay voluntary Class 2 National Insurance?
Self-employed earners whose earnings exceed the lower profits limit (set at £12,570 for 2025/26) must pay Class 4 National Insurance contributions on their profits. These …
Taxation of savings income in 2025/26
There are various ways to enjoy savings income without paying tax on it. In addition to the personal allowance, basic and higher rate taxpayers benefit …
Relief for additional expenses of working from home
In a post on X, HMRC recently warned taxpayers not to get caught out by ads promising quick refunds for working from home, urging taxpayers …
Employ a worker on a small salary to access the Employment Allowance
Employers’ National Insurance rose considerably from 6 April 2025. Not only did the rate increase from 13.8% to 15%, but the secondary threshold also fell …
Holiday lets – Business rates or council tax?
Landlords letting holiday accommodation may be able to pay business rates rather than council tax on their property. This will generally be cheaper, and if …
SDLT and linked transactions
Special rules apply for stamp duty land tax (SDLT) purposes where there is more than one sale and purchase between the same buyer and seller. …
Incorporating your property business
Running a property business through a limited company has become increasingly popular, not least because the rate of corporation tax paid on profits will generally …
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 …
