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Monthly Tax Q&A
Import One-Stop Shop
One of the consequences of Brexit is that exports of goods from GB to customers based in the EU are now zero-rated as far as
Inheritance Tax on a Deceased Person’s Gift
Last updated: 14 October 2026 Is inheritance tax due on a gift made by someone who has died? It can be. If the person who
Is a child’s savings interest taxable on parents if the funds originated from a grandparent’s inheritance?
Q. Is a child’s savings interest taxable on parents if the funds originated from a grandparent’s inheritance? A. My son was left some money by
Is a Foreign Inheritance Taxable in the UK?
Last updated: 14 October 2026 Is a foreign inheritance taxable in the UK? Not as income. The UK has no tax on receiving an inheritance.
Is an Inherited Property Subject to Stamp Duty Land Tax?
Last updated: 14 October 2026 Do you pay stamp duty on an inherited property? No. Inheriting a property under a will or intestacy isn’t a
Is Bicycle Hire Scheme for Employees Tax-Exempt?
Q. I’m considering starting a scheme for my employees where they can hire a bicycle as an extra staff benefit. Will this be exempt from tax
Is CGT Payable if my Ex-husband Buys me Out of Our Jointly-owned Home?
My husband and I have separated, and I moved out of the house we own jointly in September 2023. He is buying me out of
Is I Liable for the 3% SDLT Surcharge on Second Homes
Q. I live in a semi-detached property and am in the process of purchasing my neighbor’s property with the intention of converting the two houses into
Is Payment to Tenant a Capital or Revenue Expense During Repairs?
Q. One of my Let Properties Required Extensive Repairs to Cure a Damp Problem. The Tenant was on an Assured Tenancy, So We Reached an
Is Roof Replacement an Approved Alteration on a Listed Building?
Last updated: 14 October 2026 What VAT applies to replacing the roof of a listed building? In most cases, it’s the standard rate of 20%.
Is the VAT Flat Rate Scheme Better than Normal VAT for New Businesses?
Last updated: 14 October 2026 Should a new business use the VAT flat rate scheme? It can save time and sometimes money, but often not.
Is VAT Registration Needed for £92,000 Turnover by Dec 5, 2023?
Q. The Turnover of My Business has been no higher than £75,000 over a 12-month Period since we started but has now crept up to
January Key Tax Dates 2021
1 – Due date for payment of Corporation Tax for accounting periods ending 31 March 2020 7 – Electronic VAT return and payment due for quarter ended
July 2020 Key tax dates
5 – Deadline for PAYE settlement agreement for 2019/20 6 – Deadline for 2019/20 forms P11D and P11D(b) to be submitted and copies of P11D to be
Latest news round up
Covid-19 – business support Unsurprisingly, Christmas 2020 was dampened by the ongoing Covid-19 measures. The Prime Minister revised his plans to permit “Christmas bubbles” to
Latest News Round Up March 2021
Covid-19 There have been relatively few announcements related to Covid-19 support this month. The only real announcement of note was an amendment to the terms
Latest round up
With much of the country entering Tier 3 restrictions around Christmas, and Wales being put back into a stay at home lockdown from 28 December,
Leaving the UK: a look at split-year treatment
According to reports, the number of people leaving the UK during 2020 was “unprecedented”. The Economic Statistics Centre of Excellence reported that as many as
Managing LISAs on death or terminal illness
Lifetime ISAs (LISAs) continue to provide a tax-efficient savings vehicle for investors as there will be no income tax to pay on interest earned and no
March Key Tax Dates 2021
1 – Due date for payment of Corporation Tax for accounting periods ending 31 May 2020. 1 – New rules on domestic reverse charge for the construction