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 …
Can one company lend to another-Tax implications
Although the economy is said to be stagnating with little growth on the horizon, many smaller companies are doing well and have healthy bank balances. …
Tax implications of exceeding approved mileage payments
Employees often use their own cars for business journeys and receive a mileage allowance from their employer to cover fuel and associated costs, such as …
VAT flat rate scheme – is it worth it?
The VAT flat rate scheme is a simplified scheme for smaller VAT-registered businesses. While using the scheme will save work, this may come at a …
Action you can take if you are struggling to pay your tax
Tax due under Self Assessment for 2023/24 should have been paid in full by midnight on 31 January 2025, along with the first payment on …
Deferring Class 1 National Insurance contributions
Where an employee has more than one job, they may be able to defer the payment of Class 1 National Insurance contributions in one or …
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 …
Is it worth paying voluntary Class 3 NICs?
The payment of National Insurance Contributions (NICs) is linked to entitlement to the state pension. If sufficient National Insurance Contributions of the right type are …
Using the VAT flat rate scheme
The VAT flat rate scheme is a simplified flat rate scheme which can be used by smaller businesses to save work. Under the scheme, businesses …
What to do if you cannot pay your tax bill
As the cost of living crisis continues to bite, you may find that come 31 January 2025 you are struggling to pay your Self Assessment …
