Reducing Tax

Property news for June 2026 including - The Renters Rights act - what landlords need to know, and ways to protect yourself as a landlord. How the Renters’ Rights Act affects SDLT and will holiday lets remain popular following implementation of the act?

Updates including the new Tax-Free Mileage Rates, Reduced Rate of VAT to eligible activities over the Summer, Dividends On The 2025/26 Self Assessment Tax Return, The New R&D Targeted Advance Assurance Scheme and a look at The Employment Status Of Professional Football Match Officials

Inheritance Tax Planning can be an intricate process and there really is no one size fits all. We take a look at the use of trusts and family investment companies as part of your strategy.

Property often represents a large portion of a family estate. We take a look at strategies available to reduce Inheritance Tax on the family home and rental properties.

Updates for May 2026 including MTD fully live, clarification around loans to company shareholders, the Marshmallow VAT tribunal, Capital Allowances, changed to CIS and classification on mixed use for SDLT.

Content creation can be highly rewarding but also volatile. Take a look at our Content Creators guide to financial security for tips and strategies to create lasting wealth.

Sometimes the right tax advice isn't always the "Best" advice. The right advice depends on the clients individual needs, our job is to fully support our clients goals and ensure they can make informed decisions.

Electric vehicles are often discussed in terms of sustainability and lower running costs but for many business owners and directors, the real advantage is financial. We explore the efficiencies.

Property companies don't always turn a profit. We explore what you can and can't do when it comes to using losses to reduce your tax bill and the intricate rules around this.

Tax updates for April 2026 including Making Tax Digital for Income Tax is now live! We also take a look at what else is changing in the 2026/27 tax year, dividend updates and VAT on public electric vehicle charging.

We look at what you need to know if you are exploring the option of buying an investment property through your business and the traps to avoid.

Incorporation relief is changing from 6th April 2026, in our latest blog we explore what the changes mean and what you need to be aware of.

Planning in any financial situation is key. We share 5 tips to make sure you are MTD ready, the new reporting requirements and what to do if you believe you are exempt.

In our March 2026 update we look at the Spring forecast, the changes applicable from April for Making Tax Digital for Income Tax, Overpayment Relief from HMRC , Advisory Fuel Rates for Company Cars, Employer Provided Vehicles and Taxable Benefits in Kind and caution around third party labour.

Our February round up including the tax opportunities you still have time to use, IHT Reliefs, the MTD Countdown, changes to employment expenses and the ruling against Hotel La Tour

Offering a company holiday home can be an excellent benefit to offer your staff. We explore this unique perk and how it can help you build a rewards package for staff and save tax.

For directors planning ahead in 2026 we take a look at how you can protect your income, safeguard your business, and plan effectively.

January 2026 updates in the property sector including delays to the implementation of the leasehold & freehold act, VAT on flat maintenance, the High Value council tax surcharge, visitor levy in the UK and victory for campaigners in Gwynedd.

January 2026 updates including the latest on MTD for income Tax, employees working from home expenses, the mandatory payrolling of BIK from April 2027 and what this means, along with E-Invoicing, a Chicken VAT Tribunal and advisory fuel rates.

A new year brings change and fresh perspective. We take a look at the year ahead and how you can plan, protect and grow your business in 2026 and achieve your goals.

EMI schemes are share option plans designed for smaller, high-growth companies, enabling employees to receive equity in a tax-efficient way while helping businesses incentivise and retain key talent. From 6 April 2026, the rules governing EMI schemes will be expanded, offering businesses greater flexibility and increased capacity. In this article, we explore what these changes mean.

Both Business Relief (BR) and Agricultural Relief (AR) are set for major reform from 6 April 2026, without careful planning and consideration this could have a huge impact on IHT liabilities.

Property updates for December 2025 following the Autumn Budget announcement. We take a look at the income tax changes including MTD along with Mansion and Tourism Tax and the Renters Rights act implementation plan.

Our December 2025 newsletter with all the updates from the Autumn Budget Announcement. We take a look at the tax implications for both businesses and individuals.

From January 2026, new lease accounting rules will bring most leases onto your balance sheet as assets and liabilities. While cash flow isn’t changing, reported profits, borrowing ratios, and audit thresholds may shift. Early planning and modelling can help you understand the impact and make informed business decisions.

Updates including the draft legislation for Inheritance Tax relief for business and agricultural property from April 2026, MTD HMRC guidance for digitally excluded taxpayers, Recent tribunal rulings clarify VAT on Chocolate covered biscuits and SDLT/ATED tribunal partial win and advisory rates for electric cars.

Thinking about setting up a trust? Learn what a trust is, how it can help with tax planning and wealth protection.

Our updates for October 2025 including: The upcoming budget and speculation, spotlight on umbrella companies, updates to how VAT errors can be corrected, Sideways Loss Relief and advisory fuel rates.

Discover how SME owners can sell their business to their management team through a Management Buyout (MBO). We take a look at the process.

Planning Christmas parties and gifts for staff and clients? Small perks can be tax-free if you follow the trivial benefits rules. We take a look at the rules, limits, and tips to make the most of your festive spending

Principal Private Residence (PPR) relief protects homeowners from Capital Gains Tax when selling their main home — but it isn’t always guaranteed. The Eyre v HMRC case shows how easily claims can be challenged. Discover what counts as genuine occupation, when HMRC may intervene, and how to protect yourself.

Updates for August including - Legislation Day 2025 - What Was Published, HMRC’S Transformation Roadmap, the latest for Making Tax Digital, Proposed Changes To Inheritance Tax, Class 2 NICs - 2024/25 Errors

We cover five essential steps property developers should take to get finance-ready, including choosing the right structure, early broker engagement, lender expectations, documentation, and insurance.

Major IHT changes to UK pensions take effect in April 2027. Learn how your estate could be affected and the steps you can take now to reduce IHT liability on your estate

A practical guide to maximising innovation-based tax savings and claiming R&D tax relief in your manufacturing business.

We explore the tax treatment of HMOs in relation to the Construction Industry Scheme (CIS), highlighting what landlords need to be aware of and when registration may be required. We also examine the fine line between property investment and development and why it matters.

Property updates for June 2025 including spotlight 69, council tax on second homes, AI and landlord decision making, Possible exemptions from rent controls in Scotland and the renters rights bill 2025.

In our June 2025 newsletter we take a look at the impact of the spring update, P11D requirements, employee related securities, VAT groups and anti avoidance and the changes to advisory fuel rates.

Discover the six key bookkeeping steps every business needs to stay financially healthy. From scanning receipts to cloud software and outsourcing, we help businesses streamline their processes and make confident, data-driven decisions.

Discover 4 smart ways to structure and future-proof your property portfolio, from incorporation and Family Investment Companies to using pensions and group structures. Advice for landlords and property investors.

Our May 2025 Newsletter including the following articles : MTD for Income Tax - FAQs, Changes To The Taxation Of Non-UK Domiciled Individuals, Holiday Lettings And Property and VAT: ‘Food’ or ‘Confectionery’?

Cashflow challenges are the number one cause of construction business failures. Even profitable firms can run into serious trouble without the right systems in place. From poor contracts to late invoicing and retention delays, this blog highlights the seven biggest cashflow mistakes and what you can do to avoid them.

If you’re relying solely on year-end accounts to understand your business, you could be missing the bigger picture. Management accounts are your secret weapon, offering real-time insight into your finances, highlighting hidden issues, and helping you make smarter, faster decisions.

Articles including, the Commonhold White Paper, the renters rights bill completes house of commons, the introduction of the planning & infrastructure Bill, and finally councils in Northern Ireland are set to take over Landlord Registration Scheme

Fine wine can be a smart alternative investment, but the tax rules aren’t always straightforward. From VAT and customs duties to CGT exemptions for wasting assets and chattels, understanding your position is key. We explore how to invest in wine tax-efficiently, whether personally or through a limited company.

A break down of the Spring Statement 2025 with detailed explanations around how businesses and individuals will be affected by the changes.

The BRR (Buy, Refurbish, Refinance) strategy is a powerful way to build a scalable property portfolio, but success depends on smart planning and tax efficiency. The right accountant can help you structure deals, track costs, and maximise returns. Here’s how expert financial support can make your investments more profitable and sustainable.

We explore the pros and cons of leaving your property development portfolio to your family and developing a tax efficient strategy for passing on family wealth.

Articles for February 2025 including: There’s Still Time For Some Year End Tax Planning and Avoid Any Double Cab ‘Hiccups’!

Scaling a SaaS business requires more than just innovation—it demands financial precision. Bootstrapped founders must balance growth with cashflow management, ensuring every pound is reinvested wisely. From forecasting revenue streams to reducing unnecessary costs, mastering cashflow is key to sustainable scaling. Discover essential strategies to grow with confidence.

Deciding whether to buy or lease new plant or equipment is a crucial choice for manufacturing and engineering businesses. Each option impacts cash flow, flexibility, and long-term costs. Understanding the advantages of both can help you make the right financial decision to support your business growth and operational needs.

Gamers, content creators, and social media influencers are no strangers to strategy when it comes to their online platforms. But what about the bigger picture? What are your long-term goals, and how can you start securing them now? We explore the top 5 ways your accountant can help you build and execute your long-term strategy.

We explore the concept of Restricted Stock Units (RSUs), their tax treatment in the UK, why they are popular among US-listed companies with UK operations, the tax planning opportunities they present, and their role in business acquisitions.

Efficient tax strategies in your journey as a property developer takes careful consideration and with the right planning can be the difference in a good profit to a great one. See our top 5 Tax Strategies for property developers.

In the SaaS industry, metrics like ARR (Annual Recurring Revenue) and MRR (Monthly Recurring Revenue) are vital for tracking growth, securing investment, and planning for the future. Unlike turnover, ARR and MRR focus on predictable, recurring revenue streams, making them indispensable for scaling and valuation. Learn more in our blog!

The arrival of 2025 is the perfect opportunity to start thinking about the future of your business. What new year goals are you setting? And what actions will you be taking to achieve them? We take a look at the top 3 resolution topics.

VAT significantly impacts property development and investment, affecting costs, tax recovery, and compliance. Understanding VAT rules for residential, commercial, and holiday properties is essential for avoiding costly mistakes and maximising benefits. This guide offers practical insights and key strategies to help developers and landlords confidently navigate VAT complexities in their projects.

Whether intentionally building a platform or unexpectedly earning from hobbies, influencers must understand tax regulations to avoid costly mistakes. From registering as self-employed to tracking expenses and managing VAT, this article explores ten common tax pitfalls influencers face and offers practical tips to stay compliant and financially secure.

Articles for December 2024 including: FHLs abolition - Clarification and more protections announced for leaseholders

The Autumn Budget introduced significant changes to inheritance tax, impacting pensions, business property, and agricultural assets. From April 2027, pensions may face IHT, and business relief is capped at £1 million from April 2026. Explore planning opportunities to reduce liabilities and protect your legacy.

The Autumn Statement 2024 introduced changes to Capital Gains Tax rates, impacting residential, business, and other chargeable assets. With gradual rate increases for business assets starting April 2025, there are key planning opportunities to secure lower tax rates.

The Autumn Statement 2024 introduced major tax reforms for UK non-domiciled individuals. From April 2025, domicile status will no longer determine taxation, shifting to a residence-based system. Non-doms face significant changes, including taxation on worldwide income and gains, with transitional reliefs like the Temporary Repatriation Facility offering opportunities for tax-efficient planning.

Articles for Autumn Budget 2024 including Capital Gains Tax and National Minimum Wage (NMW) And Employers National Insurance

Articles for October 2024 including: Possible Capital Gains Tax Changes In The October Budget Many Over 55’s Can Withdraw 25% Of Their Pension Fund Tax-Free Check Your State Pension Entitlement

Articles for September 2024 including: Interest Rate Cut to 5% - impact on mortgages Stamp Duty Land Tax: Incorporation Pitfalls The Housing Scotland Bill

As the festive season approaches, it's the perfect time for businesses to explore opportunities for tax savings. From staff gifts to Christmas parties, understanding the rules around Trivial Benefits can help you make the most of tax exemptions. We break down the key ways to optimise your tax benefits during the Christmas period, ensuring your celebrations are both joyful and tax-efficient.

Articles for September 2024 including: Should you pass on wealth now to avoid inheritance tax? HMRC checking on workplace nurseries Hours worked reporting delayed to 2026

Updates for August 2024 including awareness around the 60% income tax trap, the upcoming budget date confirmation, more on the FHL special tax treatment abolishment and changes to VAT on school fees.

Renovating homes unoccupied for over two years can qualify for a reduced 5% VAT rate, while converting long-empty buildings may be zero-rated. Understanding these VAT benefits can significantly boost your project’s profitability. We look at the hidden potential VAT opportunities for property developers.

Are you unintentionally limiting your business potential? Business growth and scaling operations can be the difference between long term success and stagnation.

An overview of the proposals from the Labour Party Government pending the Autumn Statement, a look at if planning could help towards VAT on private school fees, Summer childcare costs and the tax free childcare account and finally VAT on the cost of selling a subsidiary.

VAT is always a complex tax with many different rules, and some rules will only apply in certain situations. In this blog we have reviewed some of the more complex VAT rules and the things you need to consider.

There has been a lot of press about the projected VAT on school fees. In this blog we explore ways you could use the tax system to help reduce the burden of school fees increases.

HMRC recently issued ‘nudge letters’ targeting online influencers and content creators warning that they may not have paid enough tax. So the question you may be asking is, do I need to pay tax on my online income?

In our June 2024 newsletter we look at the general election and the possible tax implications, Private mileage and employee reimbursements and HMRC interest rates staying put at 2.25%.

In our May 2024 newsletter we look at the MTD Testing launching for self assessment, New guidance on work travel from HMRC, The risks of investing in an unquoted trading company, capital losses on shares in unquoted trading companies and EIS tax relief.

With HMRC cracking down on R&D claims, it is now more important than ever to ensure you have a robust claim in place to withstand scrutiny. Let’s explore the 5 key ingredients in ensuring you have the recipe for a successful R&D claim.

In our April 2024 newsletter we look at the changes to child benefit and why many couples may now be able to restart claims, cash accounting from 2024, changes to the basis of assessment, details of MTD for income tax reports, furnished holiday lettings from 6th April, camping pods and capital allowances and more changes to R&D!

Beyond just numbers, tax planning is about maximising wealth whilst minimising tax liabilities. Our aim is to ensure you are optimising all tax saving opportunities both personally and in your company. We explore what really happens in a tax planning meeting.

We examine the benefits of making pension contributions and how this equates to tax relief.

Overall summary of the budget which includes a Capital gains Tax Reduction, Changes to domicile and residency and more...

In our February 2024 newsletter we bring you updates on using LISA allowances to save for your first home, pension planning, capital expenditure planning and more R&D Changes.

Many public sector workers including NHS workers, teachers, police officers and many more, are probably all too well aware of the issues surrounding pension reforms in recent years. The switch of public sector pension schemes from final salary to career average basis and the government’s McCloud remedy to bridge the transition caused much uproar and confusion, but we now have finalised guidance on how the reform will work and the tax implications of it.

Attracting good staff and keeping them happy is a challenge for every employing business owner. This blog looks at how salary sacrifice can be used to provide a valuable benefit and tax saving opportunity for your staff.

Starting off the new year with actions to help you plan for the future. Do you need to review or make a will? How do you pass on your family home? Can you make pension contributions on behalf of others? Have you updated your payroll software to reflect the NIC cut?

1 Week to go until Christmas! Our usual news round up including HMRC inviting tax payers to disclose undeclared crypto income, Fuel and Hired plant VAT treatment and the cost of incorrect CIS.

We are getting into the Christmas spirit with our own take on the 12 days of Christmas gifting and the tax implications of those special gifts!

Yesterday, Chancellor Jeremy Hunt presented his second Autumn Statement, but with a very different tone to the gloomy announcements made this time last year. The Chancellor announced initiatives with a massive focus on pushing growth in the economy. The main question you’ll all no doubt have is… “how does it affect me?”, let’s take a look…

In this blog, we look at the potential benefits to purchasing a double cab pick up through your limited company, going through the savings and costs of various taxes in comparison to a company car.

Our Latest News Letter Explores, if a salary or dividend will be best in 2023/24, Year end tax planning ideas for businesses, The change in LLP rules meaning some members may NOT be self employed, HMRC challenges around the LLP scheme for property businesses and reclaiming input VAT on the sale of shares

With demand for rental property being at an all time high we explore considerations if you are thinking of getting into property investment and how to ensure you are compliant from the offset of your journey as a property investor.

Trusts are often overlooked by many as being too complicated or something only for the rich, whilst the former may be partially true the latter definitely is not. With proper professional advice the benefits of trusts can be demystified, and both the tax and practical benefits realised.

With great economic uncertainty at present and unstable inflation rates, business owners need not only be concerned with their company profits, but also with the value of their spare cash in real terms over time. Gold bars and gold coins have historically been considered as a relatively safe investment choice, so can you company take advantage of this?

Property updates for October 2023 including - Record numbers of landlords making next purchase via Ltd companies, rocketing rent predictions, Possible rent controls increasing rent in Scotland and Proposed planning permission required for second homes in Wales.

In this blog, we cover the different tax aspects of purchasing a company vehicle and the potential implications if you get it wrong!

Updates for October 2023 including: The importance of accurate forecasting and utilising cloud accounting software. Associated companies and quarterly corporation tax payments. The upcoming budget report and rumours surrounding IHT.

With constant scaremongering in the mainstream media about a recession coming we have been talking to our clients and assessing the market so we can be prepared to help our clients however hard times get. In this blog Andrew Grant gives his views and shares his findings.

Updates for September 2023 including: Tax Free childcare, the effect of high earnings on child benefit entitlement, Merger of R&D Tax schemes, Income tax on Inherited Pension Funds, HMRC requiring more information from tax payers and advisory fuel rates for company cars from 1st September 2023.

Inheritance tax is a burden faced by an increasing number of estate beneficiaries, but rumour has it the government plan to abolish it ahead of next year’s General Election. We consider whether this is likely to happen.

Next in the series of less common company purchases we look at the implications of purchasing artwork through your company and what tax relief or tax charges this brings.

Inheritance tax is a burden faced by an increasing number of estate beneficiaries, and it can be difficult to do anything about it when the only valuable asset is the family home. We explore what can be done to reduce the tax liability in this scenario.

Inheritance tax is a burden faced by an increasing number of estate beneficiaries, but it is possible to reduce the tax liability or wipe it out altogether by making shrewd investments.

Inheritance tax is a burden faced by an increasing number of estate beneficiaries, but there are simple steps that can be taken to reduce the tax liability or wipe it out altogether.

Surely the tax man wouldn’t let me buy a pool table? Think again! Break out spaces for employees not only bring with them the benefits of increased staff morale, collaboration and productivity, but also some unexpected tax benefits.

What's the difference between a hybrid car and a tax efficient hybrid car? Turns out much more than you think! We explore identifying the most tax efficient hybrid cars for your next company car.

Our tax updates for July 2023 including, the deadline for topping up NI contributions being extended. An explanation of "Full expensing" which is replacing super-deductions. The VAT flat rate scheme and if small businesses should still use it, relief for working from home and HMRC scrutinizing tax avoidance schemes.

Our June 2023 Newsletter with tax updates including Employment Related Securities, HMRC Interest rate rising and company car fuel rates.

Registering for VAT isn’t always a black & white option, here we go through scenarios where VAT registration may or may not be beneficial to your business.

We look at the tax updates for May 2023 including HMRC phasing out paper submissions for P11D's and for the 23/24 tax year. Pension updates including the lifetime allowance and the importance of estate planning, Could there also be a reform of the Construction Industry Scheme?

Finding any sort of contamination on your property can easily burn a hole in your pocket, but this valuable tax relief may help you recover some of your money!

How to comply with tax reporting requirements during an estate administration period and save tax.

Group structures are not just for large companies, they can be used very effectively for smaller owner managed businesses to save tax and de-risk their assets.

We look at the tax updates for April 2023 including State Pension Top Ups, HMRC raising interest rates , ATED returns and IR35

With a range of changes in the world of tax coming into effect from April 2023, discover two simple ways to reduce your corporation tax burden and save your company money!

Keep reading to find out what Chancellor Jeremy Hunt’s “Back to Work” Budget means for you. Is 2023 a year of opportunity?

Our March Newsletter looks at tax updates including hopes for the spring budget, HMRC letters about R&D Claims and penalties for deliberate errors!

The end of another tax year is fast approaching and you may be asking yourself are there are any ways that I can reduce my tax bill?

With new rules coming into place from 5 April 2023 with regards to topping up your qualifying years for national insurance, it may be worth looking into whether you have your full national insurance credits. Without this you may not get the maximum amount of state pension that you could be entitled to.

Everyone wants to save as much tax as they possibly can without getting in trouble with the tax man, but are you using all of your tax free allowances to their fullest potential?

MAKING TAX DIGITAL FOR INCOME TAX DELAYED AGAIN… Making tax digital (MTD) for income tax self-assessment (ITSA) was originally scheduled to start in 2018 and was then put back to 2023 and then 2024. It was announced just before Christmas that the new system of submitting digital information quarterly to HMRC has been delayed yet...

A new Austen-style literary classic? Not quite a romantic novel, but this Valentine’s Day when your significant other asks where their flowers are, you can reply…”I’ve got you the gift of tax savings!”

Autumn statement was delivered by the Chancellor on 17 November. Read our expert analysis aimed at owner managed business owners and high net worth individuals.

For many people building their perfect home is just a dream. However over recent years we are seeing more and more cases of individuals looking to do just that. To ensure that individuals enjoy the same VAT advantages as professional builders check out the DIY Housebuilders Scheme.

On Friday we were presented with a ‘Mini-Budget’ – in light of the new parliamentary changes. PM Truss’ campaign came with promise of bold plans to cut taxes and stimulate growth in the economy, and although a ‘mini’ budget by name, it was not ‘mini’ by nature in respect of the changes ahead.

Are you planning on, or in the process of, developing a video game? Have you considered one of HMRC’s creative industry tax reliefs, Video Games Tax Relief (VGTR) – you could be missing out on additional tax relief of up to 20% of qualifying development costs!

Free money!! Every company director loves a tax rebate, particularly when you have incurred expenditure on a project and someone tells you that not only is this expenditure tax deductible but for the same money spent you can get additional tax relief of 130% on the expenditure and either get a lovely big tax rebate by trading in losses at 14.5% or reduce your tax liabilities down significantly.

Residential rental income is an exempt supply for VAT purposes, and so as a rule VAT cannot be charged on this income or reclaimed on related expenses. However, if you’re in a situation where you’re a landlord, but also run a VAT registered business making taxable supplies as a self-employed individual, then there may be a way you can reclaim VAT on your rental expenses too through your VAT Returns.

Higher rate tax payer? Looking to build wealth? Thought about creating your own property investment company? Pros and cons.

This blog looks at which investments are tax efficient and how you can minimize the tax payable on your financial investments.

In a recent blog we looked at using a company to hold property investments, however an alternative (and sometimes overlooked) vehicle for ownership of all family investments, property or otherwise, is through a trust structure.

With energy costs going through the roof it could make sense to make small eco-friendly improvements to your property which can reduce running costs and also add value to your property.

With the increase in employer NI costs from 13.8% to 15.05% on 6 April 2022 many employers have been looking carefully at their employment costs. For an employee earning £20,000 a year the employer NI cost is usually £1,640. There is an employment allowance (£5,000 from 6th April 2022) which can be claimed by most employers to set against their employer NI costs. This negates part of the cost, however for employers with say two to three team members it doesn’t take much to fully utilize the allowance, making the cost of each additional employee you take on more expensive with the increase in employer NI.

On 6th April 2022 the employer’s national insurance rate increased to 15.05% from 13.8%. Employer’s NI is an additional tax liability payable by employers on the gross wages of their employees. For a company with 10 employees and an annual payroll bill of £300,000 this is an annual increase in costs to the employer of £3,750.

With the war in Ukraine continuing and huge increases in energy costs inflation is expected to increase substantially over the coming year. The financial pressure is huge with households facing the largest ever recorded cost-of-living squeeze and businesses suffering substantial planned tax rises as well as pressure on wages and fuel costs. Chancellor Rishi Sunak delivered the government’s Spring Statement last Wednesday but it was clearly aimed at households. For businesses there was very little content.

Our client bank consists of many different types of property owner: those that buy property as a place to live, those that buy for investment purposes, those that through circumstances become accidental landlords, those that choose to make a living through buying, developing and selling property. What they all have in common is that at some stage they will contemplate selling their property and at that stage they will usually start to consider the tax implications.

Payments made into a pension scheme qualify for a very valuable tax relief at your top rate of income tax. Not only will the monies in the pension fund be available to provide you with an annual income for your retirement but the fund itself falls outside your estate for inheritance tax purposes and is usually available to pass to your family on death.

Becoming a landlord, particularly if you are planning to manage the letting yourself, can be daunting. The legalities are complex, finding the right tenants is not easy, things do go wrong and it is easy to underestimate how much time you’ll need to spend on one property let alone a portfolio!

Every year we sit with baited breath waiting to see what is in store for businesses and individuals from a tax perspective. Were we in for some surprises? Was there going to be a radical overhaul of the tax system particularly in respect of capital gains tax and inheritance tax?

When your loved ones are seriously ill understandably the last thing you want to think about is anything to do with finances. However it is worthwhile knowing that in cases where a spouse or civil partner is terminally ill there could be an opportunity to save large amounts of tax by passing property in a tax efficient manner.

When your loved ones are seriously ill understandably the last thing you want to think about is anything to do with finances. However it is worthwhile knowing that in cases where a spouse or civil partner is terminally ill there could be an opportunity to save large amounts of tax by passing property in a tax efficient manner.

It is often the case that those who have creative flair possess no interest in more mundane things like figures. Unfortunately for those people, especially if and when they become successful, they need to pay tax on their profits and so they either require some understanding of accounting and tax matters or be prepared to pay someone else to deal with it for them.

Over the last few years the number of people buying and selling cryptocurrencies has increased significantly. Is it any wonder given the significant potential gains which individuals can make! Bitcoin hit a record high of $65K in April 2021 (falling to $38,073 at the time of writing this blog on 3rd August).

Given the recent advice from our prime minster about working from home where applicable, many employees will be wondering whether they can make a tax claim for working from home.

Salary sacrifice schemes have been around for many years, but they should not be overlooked because when used as part of an overall remuneration package they can save significant amounts of tax and national insurance for employees and employers.

The new super deduction will run for two years from 1 April 2021 and is a radical new “super-deduction” of 130% for investment in new plant.

Life cover is never a great subject to talk about but unfortunately you never know when the unexpected may happen. We have all heard of tragic stories of individuals unexpectedly losing their lives, and whilst it is rare it does happen and for many this can leave a huge financial hole for their loved ones.

In the Chancellor’s second real Budget on 3 March 2021 he announced that he had to level with people about the state of the UK economy. Unsurprisingly given the amount of support necessary for businesses and to keep unemployment levels down the UK finances are in a mess! The national debt is expected to hit £2.5 trillion by the end of 2021!

The long delayed VAT Domestic Reverse Charge for the Construction Industry was finally introduced on 1st March 2021.

Thinking about getting an electric or hybrid car for your company? The government has announced that there will be a zero P11D benefit for the drivers of electric cars from 2020/21. This is instead of the 2% scale charge that was originally included in Finance Act 2017 to apply for 2020/21.

More and more employers are encouraging their employees to cycle to work rather than drive or use public transport. Luckily the government provide tax incentives, which makes this arrangement attractive to employer and employee, particularly for owner managed businesses where they are often one and the same!

There are many benefits of working from home from an employee’s point of view. The savings in time and costs of commuting to work are significant. The improvements in family bonds can also provide real dividends - being there for when your children leave for school or being at home for dinner with the family and tucking the children in at night are benefits which many parents find priceless.

Our latest blog looks at the possibility of having a company motorbike and we analyse the good and bad points that need to be considered.

The flat rate scheme was first introduced in the 2002 budget and is a simple way for small businesses to account for VAT on their supplies.

The Government is pressing ahead with its plan to ban all new non-electric cars from sale by 2035 at the latest, and many UK car buyers are already shifting towards electric and hybrid cars.

Looking for a tax efficient company vehicle and for various reasons an electric car is not an option? How about a 4x4 pickup? In our blog we give 4 great reasons why a pickup might not be a silly idea after all.

Looking to give shares away in your company to secure an investor, business partner or lock in an employee? Beware the pitfalls. In this blog we look at why company owners are prepared to sell or giveaway shares in their companies. We look at the problems, the tax issues, some of the solutions and recommendations we would make to ensure that if you do sale or give away part of your company that you secure your financial position.

Being your own boss is risky at the best of times. If anything unexpected happened would your family be protected?

Business startups and small businesses often do not need to register for VAT. However by registering for VAT the VAT incurred on expenditure can be recovered potentially increasing profitability. The article explores the circumstances when voluntary registration makes sense and when it doesn’t.

Over the last few years many people have cancelled their child benefit payments because their income levels have meant they would otherwise need to pay back the benefit claimed in full through their self assessment Tax Return. However with the current crisis this may need a rethink.

The Government has introduced a number of tax incentives and measures to encourage more people to use zero emission vehicles, and there are rumours that the planned ban on the sale of new diesel and petrol vehicles, as well as hybrids, could start as early as 2032.

Given the recent advice from our prime minster about working from home where applicable, many employees will be wondering whether they can make a tax claim for working from home.

We detail all the key tax announcements made by the Chancellor in his March 2020 Budget.

A client recently asked us about benefits in kind for lending employees money? A great question and the answer has led to one very happy employee!

In a recent Tax Tribunal case the judge agreed with HMRC that a detailed breakdown of director loan account transactions is required, including dates. The significance is that where the loan account is overdrawn (debit balance) there may be a possible P11D benefit on the director and also a tax charge on the company.

With Christmas coming we thought it would be helpful to summarise all the key tax benefits you can use over the festive season to ensure you have a very tax efficient Christmas!

With Christmas coming we thought it would be helpful to summarise all the key tax benefits you can use over the festive season to ensure you have a very tax efficient Christmas!

No-one likes paying tax, but it’s a fact of life. But when it comes to inheritance tax, it seems doubly unfair. After all you’ve probably already been taxed on a lot of the value in your estate, why should you pay tax again? Well we’re committed to reducing the inheritance tax burden of our clients....

If you need funding for your business and want to attract investors, why not look at SEIS and EIS? They're tax schemes authorised by HMRC and provide generous tax incentives to the investor.

We're often asked whether to purchase a buy to let property personally or via a limited company. Read our detailed advice to help you understand the up-and down-sides of each option. Everyone’s circumstances are different; the pros and cons must be weighed up on a case by case basis.

Nobody likes to receive post from the tax man, especially when HM Revenue & Customs have chosen your Tax Return for enquiry. It’s easy to panic and you’ll have lots of questions rattling around your head. Here are our top tips for handling a HMRC Revenue enquiry.

Claiming tax relief on eye tests is often overlooked by business owners, but can you claim tax relief on your Ray-Ban glasses? We thought it would be helpful to outline the rules.

The Lifetime ISA (LISA) is for over 18s and under 40s. Each year you can put up to £4,000 into your LISA and the government will contribute a 25% bonus of your investment. The product is highly tax efficient and can be used as a vehicle to buy your first home.

HMRC really seem to have had it in for landlords in recent years. For some it will be worthwhile to restructure their affairs in order to minimise the impact of recent legislation changes.

Every successful businesses has a special formula; they’re obsessed with innovation - it's in their DNA. There are several great tax breaks for companies that innovate.

As a parent one big headache could be what to do with the kids this summer. If the kids are under 11 the government can help. If they are over 13 how about getting them to come to work for you?

Friend & Grant have experience tackling the taxation challenges of a variety of foreign savings, investment, & retirement products, such as offshore funds; we can help advise you on what income needs to be reported, the available allowances, and can help formulate a tax-efficient repatriation plan.

For those business owners seeking success there is nothing more frustrating than finding that key person only for them to leave you. So how do you lock in key members of your team?

If you are building a business you must have an end goal. For most entrepreneurs that end goal is the wish for a pot of gold at the end of the rainbow. Hopefully we will all get there and all the effort will be worthwhile. Unfortunately someone else hopes you’ll get there too, it’s not a naughty leprechaun but someone equally as annoying, the tax man!

Businesses are missing out on a huge tax windfall if they conduct Research & Development and don’t claim the additional tax relief – over 250,000 successful claims have been made to HMRC

For all startups knowing when to register for VAT is fundamental. Get it right and you could save £’000s in tax, get it wrong and there could be penalties and additional costs. The rules are fairly straightforward but unfortunately many businesses still fail to register on time.

As a company director are you looking to build a strong working relationship with a trusted advisor who will help you save tax and grow your business. If you are then why not speak to us about 5 easy tax wins which we can implement with you.

You don’t have to be a client to access our Estate Planning for Your Parents service. Our clients agree that this type of forward planning is very tax efficient and helps them to understand the estate that they may have to administer when their parents die.

This is our special budget report following the Chancellor’s Autumn Budget announcements. As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to come from? Had he found a “Magic Money Tree”, or would tax and...

Subsistence is a big problem area in tax. Many clients incorrectly assume that if you are working and buy a lunch or grab a snack when re-fuelling the car or van that this is fine to claim against your tax bill.

Entertaining clients is a legitimate business expense and can be paid out of the business account. But, you will not be able to claim tax relief for the amounts spent nor can you claim back any VAT paid. But, if there is a sponsorship element to the expenditure then the position may be more favourable.

Will your next company car be a classic? How would you like to drive a fun Fiat 500 from the sixties or a cool Lancia Fulvia from the seventies? This is a serious question for car enthusiasts and one several of our clients have said a big YES to! Surprisingly, classic cars can be quite...

This question is asked a lot and it is usually along the lines of…. “I would like to learn about X and there is a great course. Could I put it through my business?” Most business owners think that training costs aimed at improving skills or business profits automatically qualify for tax relief, but that’s not...

Tax Free Trivial Benefits – Make Sure You Make the Most of This Opportunity First announced in the spring 2015 budget, new legislation clarifying the tax treatment of trivial benefits came into force from 6th April 2016. But is this an easy opportunity to extract benefits tax free from your company? The simple answer is yes!...

Do you think that all 100% tax relief cars are electrics with the performance of an old fashioned milk float? Think again. This one does 0 to 62MPH in 2.9 seconds! There’s over 130 makes and models of cars which qualify for 100% tax relief; some amazing vehicles are included on the list: BMW I8,...

From April 2017 HMRC began phasing in the ‘residence nil rate band’ which could mean large savings on inheritance tax bills for future generations. From 6 April 2020 it’s worth £70,000 per estate – so a whopping £140,000 of tax ready to be saved per couple. However, there are potential stumbling blocks as with most...

Despite there being no public news announcements from HMRC, like the TV advert about Auto-Enrolment with the 10ft furry monster, Making Tax Digital (MTD) for VAT is still going ahead from 1 April 2019. MTD for VAT will affect almost all VAT registered businesses in some way, meaning there could be more work to do...

Many of the recent changes in the taxation of buy to let rental businesses do not apply to property businesses that qualify as furnished holiday lettings. In particular, the restriction on deductibility of finance costs that started to apply from 2016/17 does not apply to furnished holiday lettings. It may be worth considering investing in...

Make Pension Payments before 6 April but High Income Clients Beware the Sting in the Tail  Making a personal pension contribution before the 6th April can be extremely tax efficient. Higher rate tax payers should be able to get higher rate tax relief on their personal pension contributions. For directors with their own companies employer...