Furnished holiday lettings have tax benefits that are not available to landlords of residential lets. However, to qualify as a holiday let, certain conditions must
The Dangers of Letting Friends Use the Holiday Let Read More »
Under the original plans, landlords with rental income (or combined rental and business income) of more than £10,000 would have needed to comply with Making
MTD and Landlords – the New Timetable Read More »
Companies and self-employed businesses with a turnover exceeding £150,000 a year are obliged to prepare their accounts using the ‘accrual’ basis of calculating profits i.e.
Tax Implications of Writing Off a Bad Debt Read More »
Most directors know that as of 1 April 2023, companies with taxable profits in excess of £250,000 will pay corporation tax at the main rate
Corporation Tax Rate Changes – What are Tax Implications? Read More »
With different rates and limits of National Insurance contributions (NIC) for the 2022/23 year, anyone who has more than one paid job or who is
NIC Position if you are Employed and Self-Employed, Deferment Read More »
It has been observed among the teacher’s sectors that teachers from the primary and secondary levels spend a big chunk of their money on the
Is the Teacher Tax Rebate Genuine? Read More »
A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is
Taxation of Company Vans in 2023/24 Read More »
As part of the move to Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), the basis period rules are being reformed. Despite the
Basis Period Reform – Preparing For the Transition Read More »
To encourage pension savings, tax relief is available on contributions made to registered pension schemes. However, there are limits on the contributions that can qualify
Pension Payments – What Tax Relief is Available? Read More »
For a brief period it seemed that the days were numbered for the additional rate of tax following the announcement in the ill-fated mini Budget
Beat the Reduction in the Additional Rate Tax Threshold Read More »
