Category: HMRC notices

The new rules will allow companies to raise more capital under the following schemes although investors will need to factor in reduced VCT Income Tax relief when assessing opportunities. The Venture

While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits

If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays,

The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence

The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax. The legislation

The Enterprise Investment Scheme (EIS) is designed to help smaller, higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those

Not all casual payments are tax-free; HMRC-s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on

If your business operates in a sector covered by the Money Laundering Regulations, you must be monitored by a supervisory authority to ensure compliance. This article outlines who needs to register

Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off -87,500 recognition payment. This scheme was launched in October 2023 to help war widows and

Not sure if a business cost is deductible? HMRC-s -wholly and exclusively- rule is the key test. When deciding whether an expense is deductible or not it is important to bear in mind that the

Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021 The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on

HMRC-s new Q&A tool guides you through each step of a compliance check. The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax

Is your child starting school this September? Tax-Free Childcare could save you up to -2,000 a year. Check your eligibility now and start planning ahead.

Working families whose children are starting

Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises.

The tax advantages that were previously

Not all state benefits are tax-free! Some, like the State Pension and Carer-s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference can help you stay on

After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures

Not all LLP members are taxed as partners. HMRC may treat them as employees if they meet certain conditions. Here’s how the salaried member rules work, what the three-part test involves, and who-s

If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records for tax

From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it-s standard, careless, offshore, or deliberate behaviour—these

When a trade ends, income doesn-t always stop. Post-cessation receipts can still arise, and knowing how they are taxed is crucial. Whether it-s Income Tax or Corporation Tax, the recipient—not

Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and employment rights. But

Selling online? Whether it-s a hobby or a business, you may need to pay tax if your earnings exceed -1,000. From services to content creation, it-s vital to understand self-assessment rules and new

There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are

As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect

There are specific customs requirements for commercial goods that you take with you to sell abroad. You must declare any goods intended for sale outside the UK, whether they are in your baggage or a

The Tax-Free Childcare (TFC) scheme helps working families manage childcare costs by providing support through a wide network of registered providers, including childminders, breakfast and

There is a basic principle that dividends or other distributions must not be paid out of capital even if the Articles of a company authorise such a payment. For the purposes of this article, reference