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Monthly Tax Q&A
Import One-Stop Shop
Last updated: 16 October 2026 What is the Import One-Stop Shop? The Import One-Stop Shop (IOSS) is an EU VAT scheme for businesses selling low-value
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?
Last updated: 14 October 2026 Is interest on a child’s savings taxed, and does it matter who gave the money? Children have their own Personal
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?
Last updated: 14 October 2026 How does the tax-exempt cycle to work scheme work? Employers can provide bicycles and cycling safety equipment to employees tax-free,
Is CGT Payable if my Ex-husband Buys me Out of Our Jointly-owned Home?
Last updated: 14 October 2026 Do you pay capital gains tax when selling the family home after separating? Often not, but it depends on timing
Is I Liable for the 3% SDLT Surcharge on Second Homes
Last updated: 14 October 2026 Are you liable for the SDLT surcharge on a second home? Probably, if you’ll own more than one residential property
Is Payment to Tenant a Capital or Revenue Expense During Repairs?
Last updated: 14 October 2026 Is a payment to a tenant during repairs capital or revenue? It’s usually revenue. If you pay a tenant to
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 at £92,000 Turnover?
Last updated: 14 October 2026 Do you need to register for VAT with £92,000 turnover? Yes, if £92,000 is your taxable turnover in the last
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
This news round-up was published in March 2021 and the rates it mentions may have changed. For current rates and allowances see our Tax Rates
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
Last updated: 16 October 2026 What is split year treatment? For tax, you are either UK resident or non-resident for a whole tax year under
Managing LISAs on death or terminal illness
Last updated: 16 October 2026 What is a Lifetime ISA? A Lifetime ISA (LISA) is a tax-free savings account for people aged 18 to 39
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