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Monthly Tax Q&A
What are the Tax Implications if Local Charity Ask my Company for Donations?
Q. The Company for Which I am a Director has been Approached by a Local Charity to Make a Donation. The Charity is a School
What are the Tax Implications of Being Paid in Crypto?
Q: My company is considering paying me in cryptocurrency. What are the tax implications for me? A: If your employer pays you in cryptocurrency, it’s treated
What are the Tax Implications of Buying Flat on Monthly Installments?
Q. I am currently let out of a flat and the tenants have approached me with an offer of buying the flat on a monthly installment
What are the Tax Implications of ISAs?
Q.1 Tax implications of ISAs? I am thinking of investing in an ISA, but am unsure as to how it impacts various taxes? Arthur Weller
What Are the Tax Implications of Removing My Name from Property Deeds?
In 2010, I took out a mortgage to buy my daughter a property in Birmingham for her to live in. Both of our names are
What are the tax implications of renting a room in your house
Question I have recently become unemployed due to the coronavirus pandemic so I am going to rent a room out in my home to get
What are the tax implications of selling land to a charity at below market value?
Q. What are the tax implications of selling land to a charity at below market value? A. I’d like to sell some land I own
What are the Tax Implications on the Trust Upon the Death of One Spouse?
Q.1 Putting Our Property into a Trust when one of us dies – What is the tax position? My spouse and I own a £1m
What are the Tax Rules for Inherited Jointly-Owned Property?
Q.2 What are the tax rules around jointly-owned property? I inherited a commercial property in Birmingham from my father, which he co-owned with his sister
What are the Tax Rules for Renting Out a Property for Vacations?
Q: I’m a property owner, and I’m considering renting one of my houses out for people to use for vacations. What are the tax rules I
What are the Tax Rules for Reporting Crypto Profits?
I made a small profit on cryptocurrency in the tax year 2022/23. It is less than the annual exemption for CGT purposes. If it is
What Business Expenses Can I Claim?
Q. I lost my job during the pandemic and intend to set up an arts and crafts shop. I will be incurring some expenses before I
What Can We Do If We Missed the PAYE Payment Deadline?
Q: My company has missed the deadline to pay our employers’ PAYE bill. We owe £23,000 but the debt is only for the last year. What
What Changes are Coming to Free Childcare Scheme After Maternity Leave?
Q: I’m planning to go back to work next year after maternity leave, and I’ve heard about changes to the free childcare scheme. What should I
What Does the End of P11D Forms Mean for My Business?
Q: My business has always used P11D forms for reporting benefits-in-kind. We don’t payroll benefits currently. But I’ve heard the rules are changing. What does this
What Employer NI Changes Should New Businesses Prepare For?
Q:I run a relatively new business. Our employer National Insurance contributions are quite modest at this point, standing at £13,900 annually so far since we
What Figure is Used for Calculating Capital Gains Tax?
Q.1 What figure is used for calculating capital gains tax? I have owned a property for 35 years and still have a mortgage on it.
What Is Form 17 for Landlords and How Do You Qualify?
Q: I’ve heard about landlords using “Form 17” to reduce their tax bill on rental income. What is it and how do you qualify? A: Form 17
What Is My Personal Savings Allowance After Redundancy?
Q: I was made redundant part way through the last tax year. I was a higher rate taxpayer but now live on income from my savings.
What is Patent Box Regime and Its Benefits for Businesses?
Q: What is the Patent Box regime and what are the benefits for businesses in the 2024/25 tax year? A: The Patent Box regime allows UK companies