Furnished holiday lets – the end is nigh
Date posted: 22nd Nov 2024
Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property on longer term lets.
Date posted: 22nd Nov 2024
Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property on longer term lets.
Date posted: 21st Nov 2024
There are various reasons why a person may not have told HMRC about the tax that they owe, ranging from a simple oversight to the deliberate evasion of tax.
Date posted: 21st Nov 2024
There are circumstances in which it may be desirable to sell some or all of a garden or the land attached to a residence separately from the residence itself.
Where this is on the cards, it is essential to plan ahead to prevent an unwanted tax liability arising accidentally. Here, it is vital that the separate sales are conducted in the correct order to preserve private residence relief.
Date posted: 21st Nov 2024
A director may withdraw money from the company for personal use or may lend money to the company. The company may pay some of the director’s personal bills, and the director may personally meet some company expenses. The director’s loan account is simply an account for recording the transactions between the director and the company in much the same way as a bank account.
Date posted: 21st Nov 2024
Where a person reaches state pension age on or after 6 April 2016, they need 35 qualifying years for a full state pension. If they have less than 35 qualifying years but at least 10, they will receive a reduced state pension.
Date posted: 21st Oct 2024
In anticipation of the Labour party’s first budget statement in nearly 15 years, there is widespread speculation regarding how the new Chancellor plans to balance the books amidst claims of an inherited financial shortfall.
Date posted: 18th Sep 2024
If it works correctly, the tax that is collected under PAYE will exactly match the tax that is due for the year. However, in practice, this balance may…
Date posted: 18th Sep 2024
It seems HMRC have noticed breeders selling puppies and kittens on the internet and are focusing on “nudging” breeders to ask them to come forward in relation to…
Date posted: 18th Sep 2024
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase the company’s profit….
Date posted: 18th Sep 2024
Whilst HMRC continue to tighten up on R&D, companies should not be deterred from making a valid claim for R&D relief. However, one of the key changes introduced,…
