Category Archives: Tax Tips

Disclose any undeclared property income

The HM Revenue and Customs (HMRC) Let Property Campaign (LPC) provides you with an opportunity to disclose any undeclared property income. By taking advantage of this campaign, you could get your tax affairs up to date and benefit from the best possible terms. It is always advisable to approach HMRC first because it puts you […]

Tax implications of earning over £100K

high earner

Earning a six-figure salary is an exceptional feat, providing a sense of financial security and abundance. However, it’s important to note that a higher income can lead to complicated tax affairs. There are various tax implications of earning over £100K so let’s have a look at them. One of the main tax implications of earning […]

Are you letting out a residential property through a limited company?


In recent years many landlords have preferred to set up a structure of a property limited company to ease the burden of tax.  Of course, this can be a good choice.  However, if you are letting out a residential property through a limited company you may have other tax obligations. As a property investor, you […]

Expanding the cash accounting basis to all self-employed businesses

Tax Return

As part of his 2023 Autumn Statement , the Chancellor announced that the cash basis will replace the accruals basis as the default method for preparing accounts for all unincorporated businesses from 6 April 2024.  The announcement means expanding the cash accounting basis to all self-employed businesses. This will apply to sole traders as well […]

Ways to reduce your corporation tax bill

Corporation Tax

With the corporation tax rate rising from 19% to 25%, business owners have started to face higher corporation tax bills from 1 April 2023. So, what are the ways to reduce your corporation tax bill? If you are running a profitable business, you may be wondering if you’re taking advantage of all the tax efficiencies […]

Is it still worth being a landlord?

The property market for landlords has been experiencing a lot of changes in recent months. After the interest rate hikes, many landlords have been questioning whether it is still profitable to continue being a landlord. They are curious to know if the business of being a landlord is still worthwhile.   Why is it difficult […]

When is a pool car, not a pool car?

company car

When an employee has access to a car provided by their employer, it usually results in a company car benefit-in-kind (BIK). However, if the car is classified as a “pool” car, then no taxable benefit arises. So, when is a “pool” car, not a “pool” car? Company Car Tax A company car is a common […]

Salary Sacrifice Scheme and the Electric Car

salary sacrifice and electric car

Salary sacrifice has been around for a while now. But in recent times it has become a popular topic again.  For two reasons, first employers want to offer a competitive package to help with staff retention. Second, money is tight for everyone, and a salary sacrifice scheme offers tax savings.  Tax savings for both the […]

Giving back to your employees at Christmas

It’s that time of the year when we celebrate the spirit of giving. As the festive season approaches, you may be considering ways to give back to your employees. This could be in the form of a Christmas bonus, a fun party, and maybe a few gifts.   But as you know by now gifting […]