Claim a refund if you have overpaid tax
There are various reasons why tax may be overpaid, and when more tax has been paid than is due, it is understandable that the taxpayer …
Starting a business as a sole trader
When starting a business, there are various decisions to make and tasks to perform. One of the first questions to address is whether to run …
Using salary sacrifice to beat the rise in employer’s NIC
One of the more unpopular Budget announcements was the rise in employer’s National Insurance from 13.8% to 15% from 6 April 2025. The Class 1A …
Using form R40 to claim a tax refund
If you are entitled to a refund of tax deducted from savings and investment income, you can claim the refund using form R40 if you …
Beware of the lifetime limit when claiming BADR on the sale of the FHL
Landlords with furnished holiday lettings (FHLs) are living in uncertain times. At the time of the 2024 Spring Budget, it was announced that the favourable …
Claiming a deduction for the expenses of a property business
Expenses will be incurred in running a property business. To ensure that tax is not paid unnecessarily, it is important that all allowable expenses are …
A repair or an improvement and why it matters
As a landlord, periodically you will need to undertake work on your property. This may simply involve fixing a leaky tap or redecorating, or the …
Tax implications of different methods of business finance
For many businesses, initial set-up costs are low with just an internet connection, smartphone and a laptop. Invariably, funding for expansion or to purchase specific …
Claiming tax relief on work clothes
Many employees are required to wear a uniform or particular type of clothing whilst at work. Even where there is no set uniform, many have …
When is a VAT invoice not a VAT invoice?
Although suppliers such as mobile phone providers are VAT registered, a careful look at the invoices issued to customers shows the words ‘this is not …
Class 2 NIC refunds made in error – Action to take
Class 2 National Insurance contributions are flat rate contributions which for 2023/24 and earlier tax years are payable by the self-employed where their profits exceed …
Making student loan repayments through Self Assessment
There are three ways in which former students with student or post-graduate loans can make loan repayments: Students will normally start making repayments from the …
