How to navigate the £500 trust income exemption
The introduction of a £500 income exemption comes with various complications, especially as income will still be taxable.
Selling power back to the grid
With continuing high electricity prices, now could be a very good time to install solar panels at your property.
Tax Tables for 2023-2024
Changes to 2023/24 tax rates have been made but are easily understandable in our Tax Tables for 2023/24. Find them here.
High-Income Child Benefit Charge: penalties and defaults
Data reveals that penalties issued by HMRC for not paying the High-Income Child Benefit Charge or paying the incorrect amount, has fallen.
Finding the right mix in mixed-use properties
On the purchase of a mixed use property, stamp duty land tax (SDLT) is paid at non-residential rates rather than residential rates. This is the case regardless of the relative size of the residential and non-residential areas of the property.
Zero-rated food confusion
The distinction between zero-rated food and standard VAT confectionery is a crucial, and complex, one – not helped by what may appear to be apparently arbitrary rulings.
2022/23 Tax Tables
Several key allowances, including the personal allowance and higher and additional tax thresholds, capital gains tax, inheritance tax and pensions were frozen.
IHT business relief for holiday lets
There are various tax advantages to a rental property being treated as a furnished holiday letting, but inheritance tax (IHT) business relief is generally not one of them.