Although a partnership can be a simple and flexible way for two or more people to own and run a business, unlike limited company status, partners do not have any […]

The car benefit tax charge does not cover fuel provided for a company vehicle. Where the company pays for all fuel (business and private), the fuel benefit will be charged, […]

Where a business receives an enquiry notification from HMRC, it does not always mean that something is wrong. Sometimes HMRC simply need some further information to ensure that a return […]

Private residence relief exempts any gain arising on the sale of the only or main residence from capital gains tax. Where the property has been occupied as the main residence […]

Unless rental income is less than £1,000, landlords must declare it to HMRC and pay tax on any profit made by the property rental business. The profit can be calculated […]

Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in addition to that held in tax-free wrappers, […]

There may be occasions on which an employer provides an employee with a taxi either to or from work. As a general rule, where an employer pays for a taxi […]

Under the self-assessment system, a taxpayer is required to make payments on account – advance payments towards the eventual tax and National Insurance liability – where the previous year’s self-assessment […]

Businesses which are not using the cash basis can claim capital allowances for capital items that are used in the business, such as plant and machinery, tools and equipment, and […]

Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with […]

The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes using Making Tax Digital (MTD), is here. For VAT returns periods

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel