Furnished Holiday Lettings and Interest Costs
For tax purposes, furnished holiday lettings are something of a special case and benefit from a number of advantages not available to standard residential lets.
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
Special Capital Gains Tax Rule for Transfers of Assets between Spouses
Although married couples and civil partners are assessed individually for capital gains tax purposes and each has their own annual exempt amount, a special rule
Paying Inheritance Tax in Instalments
Where inheritance tax is payable on an estate, it must normally be paid by the end of the sixth month after that in which the
Tax-efficient Childcare
Childcare is expensive; however, the tax system can provide a helping hand. In recent years, there has been a shift from tax relief for employer-supported
Are you Trading?
Trading income is taxed for both income tax and corporation tax purposes. In order for a tax charge to arise under the trading income rules,
What is a Nominal Ledger? A Basic Guide for Beginners
Bookkeeping is essential to take control of your business’ finances. Whether you manage your finances yourself or outsource your work to an accountant/bookkeeper, it’s better
Disposing of an Asset on which Capital Allowances have been Claimed
Capital allowances are the tax equivalent of depreciation, and the mechanism of providing tax relief for certain items of capital expenditure. However, with the exception
Sole Trader Tax – A Tax Guide for Self-employed Individuals
Do you know there are around 3.5 million sole traders in the UK which makes 59% of the UK’s private sector business population. And with
Using ‘Bounce Bank Loan’ to Pay Dividends – Is that What it was for?
Open until 31 March 2021, the Governments’ Bounce Back Loan Scheme (BBLS) helped support businesses during the coronavirus pandemic, permitting firms to apply a minimum
Sage Vs QuickBooks- Which is the Better Accounting Software?
No matter whether you’re a small business owner or a large one, you need to manage your bookkeeping and accounting processes properly to keep your
What is Meant by Taking ‘Reasonable Care’?
All taxpayers have a responsibility to complete their tax returns correctly, to the best of their ability. However, inevitably, mistakes occur which may not be
What is a Limited Company? A Basic Guide
Many business owners set up a limited company without knowing ‘what is a limited company?’ This business structure is legally separate from its owners or
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