Annual Tax on Enveloped Dwellings (ATED)
How the Annual Tax on Enveloped Dwellings works, who must pay it, current rates and bands, available reliefs, filing requirements and how …
Tax and VAT
Everything about taxes, duties and regulatory reporting for businesses.
Benefits in Kind (BIK)
How benefits in kind work in the UK, what counts as a taxable benefit, how to value and report them on the P11D, payrolling benefits, Class …
Business Asset Disposal Relief (Entrepreneurs' Relief)
Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) provides a reduced 10% Capital Gains Tax rate on qualifying business …
Business Rates Explained
Business rates are a tax on commercial properties in England and Wales. This guide covers how rates are calculated, who is liable, available …
Capital Allowances
Capital allowances let businesses deduct the cost of capital assets from their taxable profits. This guide covers the main types of …
Corporation Tax Payment Deadlines
Corporation tax payment deadlines depend on the size of your company. Small companies pay 9 months after their accounting period, while …
Cryptocurrency Tax in the UK
HMRC treats cryptocurrency as property, not currency, meaning disposals can trigger capital gains tax and certain crypto activities are …
Dividend Tax in the UK
Dividend tax is charged on income received from shares in a company. This guide covers dividend tax rates, the tax-free allowance, how …
Employment Allowance
The Employment Allowance reduces an employer’s National Insurance liability by up to £10,500 per year. This guide covers eligibility, …
Flat Rate Expenses
HMRC allows employees and self-employed workers to claim flat rate expenses for certain work-related costs without needing to keep receipts. …
Gift Aid for Businesses
Gift Aid allows UK businesses to claim tax relief on qualifying charitable donations, reducing their corporation tax liability. This guide …
High Income Child Benefit Charge
The High Income Child Benefit Charge claws back Child Benefit from families where one parent earns over £60,000. This guide explains the …
HMRC Tax Investigation
An HMRC tax investigation is a formal enquiry into your tax affairs. This guide covers the types of investigation, common triggers, what to …
Inheritance Tax and Business Relief
Inheritance Tax is charged on estates above the nil-rate band when someone dies, and on certain lifetime gifts. This guide covers IHT rates, …
Key UK Tax Dates
Missing a tax deadline can result in penalties and interest charges. This guide provides a comprehensive calendar of the most important UK …
Mileage Allowance for Business Travel
HMRC sets approved mileage allowance rates that businesses can pay employees tax-free for using their own vehicles for work. This guide …
Overlap Relief and Basis Period Reform
Overlap relief addresses double-taxed profits from the old basis period rules. The basis period reform from 2024/25 moves all self-employed …
Patent Box
The Patent Box lets qualifying UK companies apply a reduced 10% corporation tax rate to profits earned from patented inventions. This guide …
Personal Allowance
The personal allowance is the amount of income you can earn each year before paying income tax. This guide covers the current allowance, how …
Property and Trading Income Allowances
The property income allowance and trading income allowance each provide £1,000 of tax-free income per year. This guide covers who qualifies, …
R&D Tax Relief for Small Businesses
R&D tax relief allows small and medium businesses to claim additional tax deductions or credits for qualifying research and development …
Simplified Expenses
Simplified expenses allow self-employed individuals to use flat rates instead of calculating actual costs for vehicles, working from home, …
Tax Losses in the UK
How UK trading losses can be relieved through carry forward, carry back, group relief and sideways offset, covering both corporation tax and …
Tonnage Tax
The tonnage tax regime allows qualifying UK shipping companies to calculate their corporation tax based on the net tonnage of their fleet …
Transfer Pricing Rules for UK Companies
How UK transfer pricing rules work, the arm’s length principle, approved pricing methods, documentation requirements, HMRC enquiries …
Trivial Benefits: Tax-Free Perks for Employees
The trivial benefits exemption allows employers to give small tax-free gifts and perks to employees without triggering income tax or …
VAT Exemptions and Zero-Rated Supplies
VAT exempt supplies carry no VAT but prevent input tax recovery, while zero-rated supplies are taxed at 0% but allow full recovery. This …
VAT Group Registration
VAT group registration allows related businesses to register as a single VAT entity, eliminating VAT on transactions between group members. …
VAT Margin Scheme
The VAT margin scheme allows businesses to pay VAT only on the profit margin when selling eligible second-hand goods, works of art, …
VAT Partial Exemption
VAT partial exemption applies when a business makes both taxable and exempt supplies. This guide explains how to calculate the amount of …
VAT Penalties
HMRC replaced the old default surcharge with a points-based penalty regime from January 2023. This guide explains how late submission …
VAT Registration: When and How to Register
UK businesses must register for VAT when their taxable turnover exceeds the registration threshold. This guide covers compulsory and …
VAT Reverse Charge: How It Works
The VAT reverse charge shifts the responsibility for accounting for VAT from the supplier to the customer. This guide explains when it …
VAT: Complete Guide to VAT in the UK
What is VAT, how are VAT rates calculated, registration, reporting, and practical advice for businesses in the UK.
What Are National Insurance Contributions?
National Insurance contributions are payments made by employees, employers, and the self-employed that fund the UK State Pension and certain …
What Are Tax Codes?
Tax codes tell your employer how much tax-free income you are entitled to under PAYE. This guide explains what the numbers and letters mean, …
What Are Tax-Deductible Expenses?
Tax-deductible expenses are business costs that can be subtracted from income before calculating tax. This guide covers what qualifies, how …
What Are VAT Returns?
A VAT return is a quarterly report submitted to HMRC showing VAT collected on sales and VAT paid on purchases. This guide covers how to …
What is Capital Gains Tax?
Capital Gains Tax is charged on the profit when you sell or dispose of an asset that has increased in value. This guide covers CGT rates, …
What is Corporation Tax?
Corporation tax is the tax that UK limited companies pay on their profits. This guide covers rates, deadlines, allowable deductions, and how …
What is Income Tax?
Income tax is the tax charged on personal earnings and other income in the UK. This guide covers rates, bands, allowances, and how income …
What is IR35?
IR35 is tax legislation that targets contractors who work through intermediaries but would be employees if engaged directly. This guide …
What is Making Tax Digital?
Making Tax Digital is HMRC’s programme to modernise the UK tax system through digital record keeping and online submissions. This …
What is PAYE?
PAYE (Pay As You Earn) is the system HMRC uses to collect income tax and National Insurance from employees’ wages. This guide covers …
What is Self-Assessment?
Self-assessment is the system HMRC uses to collect income tax from individuals who are not fully taxed at source. This guide explains who …
What is Stamp Duty?
Stamp Duty Land Tax is a tax paid when purchasing property or land in England and Northern Ireland. This guide covers rates, thresholds, …
What is the Annual Investment Allowance?
The Annual Investment Allowance lets businesses deduct the full cost of qualifying plant and machinery from taxable profits in the year of …
What is the Construction Industry Scheme?
The Construction Industry Scheme requires contractors in the construction industry to deduct tax from payments to subcontractors. This guide …
What is the VAT Flat Rate Scheme?
The VAT Flat Rate Scheme lets small businesses pay a fixed percentage of turnover to HMRC instead of calculating VAT on every transaction. …
What is VAT? Complete Guide to VAT in the UK
An overview of what VAT is, the applicable rates, and how UK businesses register, calculate, and report VAT.