The transition from FHL to Property Rental business
Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises.
The tax advantages that
State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference
Tax treatment of income after cessation
After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not
LLP salaried members
Not all LLP members are taxed as partners. HMRC may treat them as employees if they meet certain conditions. Here’s how the salaried member rules work, what the three-part test
Records you must keep if self-employed
If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records
How far back can HMRC assess under-declared taxes?
From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it’s standard, careless, offshore, or deliberate
Treatment of post-cessation receipts and payments
When a trade ends, income doesn’t always stop. Post-cessation receipts can still arise, and knowing how they are taxed is crucial. Whether it’s Income Tax or Corporation Tax, the
How umbrella companies work
Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and
Selling online and paying tax
Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it’s vital to understand
Gifts of land and buildings to charities
There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the