
Gifts of shares to minor (under 18s) children
The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the ...

What counts as holiday accommodation?
HMRC’s VAT Notice 709/3 entitled 'Hotels and holiday accommodation' explains how supplies by hotels and similar establishments such as motels, ...

The badges of trade
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a ...

Income Tax – £5,000 savings zero rate band
If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay ...

CGT – Lettings relief
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family ...

IHT – Giving away your home before you die
The majority of gifts made during a person's life, including gifting a home, are not subject to tax at the ...

Autumn Statement Summary
The Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons. The government continues ...

Fuel price watchdog sharpens its teeth
UK motorists will be protected at the pumps under tough new powers that will shine a light on any attempt ...

£4.5bn for British manufacturing from 2025
The government has announced £4.5 billion in funding for British manufacturing to increase investment in eight sectors across the UK ...

Time to Pay tax
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC. An ...

Hold-over gifts relief
Gifts Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT) that may arise on a relevant ...

Full expensing
The full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect on 1 April 2023 ...

Tax relief on pension contributions
Taxpayers can usually claim tax relief for their private pension contributions. There is an annual allowance for tax relief on ...

Marriage allowance entitlement
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does ...

Tax credits top-up
The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested ...

Tax Diary December 2023/ January 2024
1 December 2023 - Due date for Corporation Tax payable for the year ended 28 February 2023. 19 December 2023 ...

Why breakeven analysis can be illuminating
If you focus your energy on sales, there is a chance that your efforts will produce losses. Which is why ...

Closing the door on tax planning
When the end of a tax year passes, the 5 April 2024 for the current year, or the end of ...

What is a business repair?
HMRC’s internal manuals provide some useful information on the definition of a business repair. This is important because it is ...

Reminder of not-so-trivial tax-free benefits
There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a ...