IHT charge on unused pension benefits
From 6 April 2027, inheritance tax will be payable where someone’s estate at death includes unused pension funds or death benefits. The measure was announced …
The Complete Finance Function Your SME Actually Needs
Running a small or medium-sized enterprise (SME) in the UK is both exciting and challenging. While most entrepreneurs start with a great idea, a strong …
Using former FHL losses
From 6 April 2025, furnished holiday lets are treated in the same way as other lets for tax purposes. Landlords letting both holiday accommodation and …
Holiday lets and business rates
Although the end of the tax regime for furnished holiday lettings relieved landlords of the need to keep track of the number of days for …
Earn tax-free income from renting out your garage
There is a demand for garage space, particularly from tradespeople who want somewhere to store their tools safely rather than leaving them in their van …
Credit notes or VAT bad debt relief claim – which?
Bad debts pose a significant challenge for every business. Staying on top of non-payments is essential for maintaining a healthy cash flow and ensuring the …
The tax consequences of not repaying an ‘illegal dividend’
Dividends can only be declared out of a company’s available undistributed profits and even if the bank account is in credit as at the date …
The tax position when partners do not receive the profit share they are allocated
In a partnership, the activities are considered to be conducted by the individual partners rather than the partnership itself, as a partnership is not a …
Temporary staff and auto-enrolment
Employers have a duty to enrol eligible staff in a pension scheme. Staff are eligible if they are aged between 22 and state pension age …
What happens to your estate if you die intestate?
In an ideal world, everyone’s estate would be distributed according to their wishes. However, where someone dies without making a will, who gets what is …
Tax-free trivial benefits
The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without an associated tax …
Correcting errors in your VAT return
It is easy to make mistakes when completing your VAT return. However, where mistakes are made, it is important to correct them. This is fairly …
