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Monthly Tax Q&A
What is the best way to secure relief as soon as possible
Last updated: 14 October 2026 What’s the best way to get tax relief when a company you invested in fails? Make a negligible value claim
What is the Capital Gains Tax on Selling First vs. Owning Second Property?
Last updated: 16 October 2026 Do you pay capital gains tax when you sell a first or second property? Selling your only or main home
What is the Most Current C Form for IHT?
Last updated: 16 October 2026 What are the current inheritance tax forms? In England, Wales and Northern Ireland, the main form is the IHT400, used
What makes interest payments to a family member allowable for tax purposes?
Last updated: 16 October 2026 When is interest paid to a family member allowable for tax? Interest paid to a family member is allowable against
What Tax Relief Can I Get for £30,000 SEIS Investment?
Last updated: 14 October 2026 What is the Seed Enterprise Investment Scheme (SEIS)? SEIS gives investors 50% income tax relief on up to £200,000 a
What to Show on Invoices for Café Business if VAT Number Delayed?
Q. I have Applied to Register my Café Business for VAT from 1 July, but the VAT Number hasn’t Arrived. What Should I Show on
What Travel Expenses Can I Claim?
Last updated: 14 October 2026 What travel expenses can you claim? You can claim the cost of business journeys: travel to a temporary workplace, to
When do I need to pay tax on savings interest from a closed account?
Last updated: 14 October 2026 Do you pay tax on savings interest from a closed account? Yes, if the interest takes your savings income over
When Do I Register for VAT After Exceeding the Turnover Threshold?
Q: The turnover of my business has been no higher than £68,000 over a 12-month period since we started but has now risen to £91,000. It
When Should I Transfer My Main Residence to My Children?
Last updated: 14 October 2026 Can you transfer your home to your children to save inheritance tax? You can, but it rarely works if you
Why Am I Paying Tax on My Pension for the First Time?
Last updated: 14 October 2026 Why are you paying tax on your pension? Pension income is taxable, just like a salary. The State Pension, workplace
Why Different Tax Treatment for Home vs Workplace EV Charging?
Last updated: 19 October 2026 How is electric vehicle charging taxed? Charging at work is tax-free for employees, whether the car is a company car
Why Hasn’t HMRC Repaid Full SMP Amount for Maternity Leave?
Last updated: 16 October 2026 The question An employee has been on maternity leave for several months. As a small company I have reclaimed the
Will Buying a House in Scotland Affect My Tax Residency?
Q. I’m a resident in England but I’m buying a house in Scotland and will be splitting my time between the two – both in terms
Will HMRC treat my daughter’s online retail jewellery income as my income if payments go into my account?
Last updated: 16 October 2026 Who pays tax if your daughter’s jewellery sales go through your account? The person who runs the business pays the
Will I Be Liable for Capital Gains Tax on a Property Gift to My Daughter?
Last updated: 14 October 2026 Will you pay capital gains tax on a property you gift to your daughter? Possibly. A gift to your daughter
Will I be Taxed on Gain from Selling Property with a Business and Rented Room?
Last updated: 16 October 2026 The question I let a room in my home to a lodger, and I run my self-employed business from another
Will I Incur Additional Taxes on My Property in Budapest?
Last updated: 16 October 2026 How is property in Budapest taxed if you live in the UK? If you’re UK resident and own property in
Will I Pay Capital Gains Tax When Selling My Home After 15 Years of Renting?
Last updated: 14 October 2026 Do you pay Capital Gains Tax when selling your home? Usually not. If the property has been your only or
Will I Pay Tax on Rent-a-Room and Investment Income?
Q.3 Rent-a room and investment income: Will I be subject to any tax? If I earn more than £7,500 from rent-a-room but the excess of