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Monthly Tax Q&A

245 articles
Last Updated: March 2, 2021

March Questions and Answers

Questions: I am looking at buying a rundown pub/restaurant ready for this summer, assuming it will be allowed to open. I need to spend approximately

Last Updated: October 16, 2026

New Employee Tax Code: No P45, No Checklist? Use 0T W1/M1

Last updated: 14 October 2026 What tax code should you use for a new employee with no P45? If a new employee doesn’t have a

Last Updated: October 18, 2026

New Solopreneur: How Should I Pay Myself?

Last updated: 16 October 2026 The question I’m starting a new business in the new year and will be a sole trader. How should I

Last Updated: November 1, 2020

November 2020 Key tax dates

1 – Due date for payment of Corporation Tax for the year ended 31 January 2020 2 – Last day for car change notifications in the quarter

Last Updated: October 14, 2026

Options for Handling a VAT Bill When Cashflow Is Tight

Last updated: 14 October 2026 What can you do if you’re struggling to pay VAT because of a cash-flow problem? Contact HMRC before the payment

Last Updated: October 18, 2026

Paying Tax on Savings as a Higher-Rate Taxpayer

Last updated: 16 October 2026 The question I’m about to become a higher rate taxpayer, so my savings interest will start to be taxed. How

Last Updated: October 16, 2026

PPT Relief for Former Rental Property: How Long Must I Live There?

Last updated: 14 October 2026 How long do you need to live in a former rental property to get private residence relief? There’s no fixed

Last Updated: October 14, 2026

Q. Can a Company Claim the 100% First Year Allowance for an Electric Car?

Last updated: 14 October 2026 Can a company claim the 100% first-year allowance on an electric car? Yes. A limited company that buys a new,

Last Updated: October 18, 2026

Reclaim the tax using over payment relief

Last updated: 16 October 2026 The question I usually pay about £10,000 a year into my pension. A few years ago I paid in a

Last Updated: August 1, 2020

Reduced property transaction charges

Recent research revealed that property transactions fell by more than 50% in May and house prices have fallen for first time in eight years. In an attempt

Last Updated: October 16, 2026

Registered Subcontractor – CIS Gross Payment Status

Last updated: 14 October 2026 How does a CIS subcontractor get gross payment status? Apply to HMRC through your online account or by phone, once

Last Updated: October 18, 2026

Reporting Covid-19 support payments

Last updated: 16 October 2026 Are grants taxable? Most grants and support payments a business receives from government or public bodies are taxable. They form

Last Updated: October 18, 2026

Residence Nil-Rate Band: What is it and Do You have to Claim it?

Last updated: 16 October 2026 What is the residence nil rate band? The residence nil rate band (RNRB) is an extra inheritance tax allowance of

Last Updated: October 18, 2026

Reverse charge for building services imminent

Last updated: 16 October 2026 What is the domestic reverse charge? Since 1 March 2021, the VAT domestic reverse charge has applied to many building

Last Updated: February 1, 2021

Self-assessment – DIY time-to-pay options

The tax return filing deadline for 2019/20 has now passed. However, where taxpayers have struggled to pay any tax they owed by the 31 January

Last Updated: November 1, 2020

Self-assessment payments deferment for Self-employed people

Question  I am self-employed and my business has been struggling this year due to the coronavirus. I opted to defer my 31 July 2020 tax

Last Updated: September 1, 2020

September 2020 Key tax dates

19/22 – PAYE/NIC, student loan and CIS deductions due for month to 5/9/2020

Last Updated: October 16, 2026

Should I Register for CIS as Sole Employee in New Carpet Business?

Last updated: 14 October 2026 Do carpet fitters need to register for the Construction Industry Scheme? Usually not. HMRC treats carpet fitting as outside the

Last Updated: October 16, 2026

Should I stop transferring married couple’s allowance if my spouse is now the higher-rate taxpayer?

Last updated: 14 October 2026 Should you stop transferring Married Couple’s Allowance? It depends on whose income is higher and whether the transfer still saves

Last Updated: October 16, 2026

Should UK Landlords Pay More Tax Under Labour Plans?

Last updated: 14 October 2026 Will UK landlords pay more tax under the government’s plans? Yes, from April 2027. The Budget on 26 November 2025

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