Tax Tips and News
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...
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...
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...
Should I file my tax return early?
Should I file my tax return early? If you need to file a Self Assessment tax return for 2022/23, you have until midnight on 31 January 2024 in which to do this, as long as you file online. However,...
Mixed-use properties and SDLT
Mixed-use properties and SDLT For stamp duty land tax (SDLT) purposes, a property may be a residential property, a non-residential property or a mixed-use property. The classification is important...
CGT advantages of furnished holiday lettings
CGT advantages of furnished holiday lettings Furnished holiday lettings (FHLs) have a number of tax advantages over residential lets. These advantages include the opportunity to benefit from a...
Selling the garden for development
Selling the garden for development If you own a large plot of land that you no longer require but you don’t want to move home, you may consider selling some of it for development. However, from a...
Capital gains tax on separation and divorce
Capital gains tax on separation and divorce Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a gain...
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