Determining if assets or property are used for business or personal purposes can significantly affect taxation levels. HM Revenue and Customs (HMRC) is often sceptical of claims where assets appear capable of private use, from cars to horses, and even motorbikes. The consequences of getting it wrong can be costly. So, let’s clarify when an […]
Category Archives: Tax Tips
03
Sep
Sep
We know it’s confusing out there right now. Another day, another story of a possible tax hike. It feels like there’s a new story about rising taxes all the time, some even suggesting that you could soon be taxed on what is the most precious asset for most of us: our home. Truth be told, […]
Landlords, Personal Tax, Tax Planning, Tax Tips
Tax Tips for Landlords 2025 – Essential Guide to Saving Money and Staying Compliant
13
Aug
Aug
The 2025–26 tax year is a pivotal one for UK landlords. From a steeper Stamp Duty Land Tax (SDLT) surcharge to the end of the Furnished Holiday Let (FHL) regime, plus the looming rollout of Making Tax Digital (MTD), the landscape has shifted significantly. What’s more, the Renters’ Rights Bill promises to bring a raft […]
Personal Tax, Tax Advice, Tax Planning, Tax Tips
Thinking of Leaving the UK? Here’s What You Need to Know About The Tax Implications
25
Jun
Jun
There’s been growing interest among some in leaving the UK in recent months, particularly among higher earners and internationally mobile individuals. Following the removal of the long-standing “non-domicile” tax rules in the Budget last Autumn, headlines have speculated that many are packing their bags, whether for tax reasons or not. If you are thinking of […]
Corporation Tax, Tax Planning, Tax Tips
Salary vs Dividends: What’s the Best Way to Pay Yourself as a Business Owner now.
03
Jun
Jun
The long-standing question of whether to take income as a salary, dividends, or a mix of both has become more complex with recent tax changes introduced for the 2025–26 financial year. The changes announced in the Autumn Budget has now changed the mix a bit. So, what’s the best way to pay yourself as a […]
03
Jun
Jun
If you’re an employee in the UK and you’ve paid out-of-pocket for certain work-related expenses, you might be entitled to claim Income Tax relief from HM Revenue & Customs (HMRC). Many employees are unaware that they could be missing out on valuable tax refunds simply because they haven’t submitted a claim. So, let’s look at […]
Corporation Tax, Employee Benefits, P11d, Tax Planning, Tax Tips, Uncategorized
Leasing v. Hire Purchase
28
May
May
Many businesses use vehicles, and as you begin to explore your options, two terms frequently arise: leasing and hire purchase. While they may sound similar, there are key differences between them, particularly regarding ownership, costs, and flexibility. So let’s explore the question Lease v. Hire Purchase. Leasing Leasing a car is similar to renting, but […]
capital gains tax, self employed, Tax Advice, Tax Planning, Tax Tips
Is it time to bring forward your exit plan?
21
May
May
Are you a shareholder in a small business? Do you have plans to sell or transfer your business? Is it time to bring forward your exit plan? Starting next tax year, small business owners and those eligible for Business Asset Disposal Relief (BADR) will experience increased tax rates. In fact, an increase already happened in […]
30
Apr
Apr
Directors loan account, what is it? A director’s loan account (DLA) records transactions between the director and the company. It is a record of either money lent to the company or borrowed from the company. The tax treatment of these transactions depends on whether you have lent money to the company or are borrowing from […]
23
Apr
Apr
It’s easy for small businesses to overlook the implications of Making Tax Digital (MTD), especially since it has been delayed a few times over recent years. However, we can confirm that MTD is coming, and the countdown has already begun! Staying informed about these changes can be challenging, but we are here to support you […]