Relief for pre-trading expenses
In setting up a trade it is inevitable that expenses will be incurred before the trade actually commences. Expenses may be incurred on acquiring premises …
Get your overlap relief figure
If you have unrelieved overlap profits, you will not be able to claim relief for those profits after 2023/24. Overlap profits are profits that have …
Dealing with gift hold-over relief ‘nudge’ letters
HMRC are sending one-to-many ‘nudge’ letters to taxpayers who included an invalid claim for gift hold-over relief in their 2021/22 tax return. This may be …
Common NMW errors to avoid
Workers are entitled to be paid the National Living Wage (NLW) or Minimum Wage (NMW) for their age. Employers who fail to do this run …
Separating couples – Importance of checking your child benefit claim
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where the claimant or his or her partner has adjusted …
Extracting profits from a property company
Recent tax changes, in particular the interest restriction for unincorporated property businesses with residential lets, have resulted in more landlords operating via a property company. …
Check your business rates are not too high
Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs, factories, guest houses and holiday lets. Business …
Paper version of capital gains tax on UK property return
Where an individual realises a chargeable gain on the disposal of a UK residential property, they must report the gain to HMRC within 60 days …
HMRC’s complaints process
Many taxpayers taxed under self assessment may not be aware that HMRC self assessment phone service was closed for three months, opening on 4 September. …
Alphabet shares
Read this article to find out whether ‘alphabet shares’ would be relevant to your company.
The implications of late VAT registration
VAT registration is compulsory for any UK established persons who are in business and make or intend to make taxable supplies should either one of …
Tax and influencers
Earlier this year, HMRC sent ‘nudge’ letters to social influencers who they suspect may not have declared the tax that they owe. They have also …
