Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on...

Where a landlord makes a loss on their property rental business, the options for using that loss are limited. The rules depend on whether...

Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property...

It is usual for a landlord to require a deposit from a tenant as security against damage to the property. This cannot be more than five...

The remittance basis of tax is an optional tax treatment that allows individuals who are resident but not domiciled in the UK to pay tax...

No tax charge arises in respect of the provision of a nursery place for an employee’s child at a workplace nursery provided that the...

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,...

As outlined before the election, the new Government are to go ahead with their proposal to impose VAT on school fees. Legislation was...

If you are entitled to a refund of tax deducted from savings and investment income, you can claim the refund using form R40 if you do not...

For many businesses, initial set-up costs are low with just an internet connection, smartphone and a laptop. Invariably, funding for...

Many employees are required to wear a uniform or particular type of clothing whilst at work. Even where there is no set uniform, many...

Although suppliers such as mobile phone providers are VAT registered, a careful look at the invoices issued to customers shows the words...

Class 2 National Insurance contributions are flat rate contributions which for 2023/24 and earlier tax years are payable by the...

There are three ways in which former students with student or post-graduate loans can make loan repayments: · from deduction from their...

The VAT flat rate scheme is a simple VAT scheme for smaller VAT-registered businesses. Rather than pay the difference between the VAT...

Earlier this year, HMRC wrote to wealthy taxpayers who had not submitted tax returns for 2020/21 and/or 2021/22. A letter was sent where...

Children may have their own income. This may be in the form of savings income on accounts that they hold or, for older children, income...

As a landlord, periodically you will need to undertake work on your property. This may simply involve fixing a leaky tap or redecorating,...

For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimise tax liabilities...

VAT applies to taxable supplies made by a VAT-registered person whether an individual or a company. VAT-exempt supplies in the UK are...