Tax effects of letting out part of your home
If you have tenants living in your property, it is important to understand the Capital Gains Tax (CGT) implications. In most cases, there is no CGT to pay when you sell a property
When not to charge VAT
When issuing invoices, it is important to apply the correct VAT treatment. In some cases, that means not charging VAT at all. Although most UK businesses charge VAT at the standard
Filling in NIC contribution gaps
National Insurance credits can help qualifying applicants to fill contribution gaps in their National Insurance record. This can help taxpayers increase their number of qualifying
How to claim child benefits
An application to claim child benefits can usually be made 48 hours after you have registered the birth of your child, or once a child comes to live with you. An application for
Creative businesses to benefit from government finance package
The government has announced a new package of measures designed to improve access to finance for creative businesses across the UK. The initiative aims to support firms operating
Why inflation matters when funding pension funds
When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent
Workplace pensions
Automatic enrolment for workplace pensions has helped many employees to start making provision for their retirement with employers and government also contributing to make a larger
Simplified expenses on motor vehicles
There are simplified expenses arrangements available for sole traders and business partnerships (with no corporate partner) that allow the use of fixed mileage rates instead of
Claiming the Annual Investment Allowance
The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from pre-tax
Who needs to file a self-assessment tax return
There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over
HMRC reminder for self-employed and landlords
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that for many
Check how to claim a tax refund
If you believe that you have overpaid tax to HMRC, you may be entitled to claim a tax refund. Overpayments can occur for a variety of reasons, including changes to employment,