Private residence relief is a valuable capital gains tax relief which means that a person does not have to pay capital gains tax on any...

Expenses will be incurred in running a property business. To ensure that tax is not paid unnecessarily, it is important that all...

The nil rate band is the amount that a person may leave free of inheritance tax. Each person has their own nil rate band, which for...

With interest rates falling, business growth should follow. While this is waiting to happen, companies continue to close. The latest...

For 2024/25 and later tax years, unless they elect otherwise, unincorporated businesses must prepare their accounts and calculate their...

Up to certain limits, it is possible to enjoy some savings income tax-free. The extent to which this is possible depends on the rate at...

A person who buys a new home from a property developer does not have to pay VAT on it as the sale is zero-rated. However, a person who...

It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at least...

VAT can be confusing at the best of times, with the reverse charge being arguably one of the more complex applications. It does not help...

VAT-registered businesses who use invoice accounting generally account for VAT when invoices are issued and received. HMRC have recently...

Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after...

If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a Self Assessment tax...

When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a...

In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may...

Where a property has at some time been a main residence, certain periods of absence are treated as periods of residence for the purposes...

Under English property law, there are two ways in which property can be owned jointly – as joint tenants and as tenants in common. The...

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...

Nearly ten years ago in March 2015 the then-Chancellor George Osborne announced a government initiative setting out a vision for the 'end...

While having more money in your bank account than is needed may seem ideal, for director shareholders of a company with surplus cash, it...

If a VAT registered business has taxable income only (including zero-rated sales), it is entitled to full input tax recovery on its...