Gift the holiday let by 5 April 2025 to benefit from hold-over relief
Gift the holiday let by 5 April 2025 to benefit from hold-over relief The favourable tax regime for furnished holiday lettings is to come to an end on 5 April 2025. This will mean that landlords of furnished holiday lettings will lose access to a range of valuable... National Insurance cut for employees and directors
In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from 12% to 10%. Rather than waiting until the start of the 2024/25 tax year to bring in the change, it applies from 6 January 2024. The...
The implications of late VAT registration
The implications of late VAT registration VAT registration is compulsory for any UK established persons who are in business and make or intend to make taxable supplies should either one of the following tests are satisfied: Historical test Under the ‘historical... Do we need to register for VAT?
Do we need to register for VAT? If you make VATable supplies, you will need to register for VAT if your taxable turnover reaches the VAT registration threshold. The VAT registration threshold is set at £85,000. The need to register for VAT is triggered if your VAT...