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Category: Blog

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Government-Endorsed Tax Incentives: Boosting Investment in Small and Medium-Sized Companies

For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimize tax liabilities while maximizing capital inflow. These schemes are designed to attract investment by offering tax reliefs to investors, making it more appealing for them to invest in small and growing businesses. Several government-endorsed tax incentives have been implemented to encourage

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VAT Payback and Clawback Rules: Implications of Changing Business Plans

VAT applies to taxable supplies made by a VAT-registered person, whether an individual or a company. VAT-exempt supplies in the UK are goods and services that are not subject to VAT at any rate, including the standard rate (20%), reduced rate (5%), or zero rate (0%). Businesses making only VAT-exempt supplies do not charge VAT

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Investing the proceeds from the sale of the family home and the IHT gifts from income exemption

For many people, there will come a time when it becomes sensible or necessary to sell the family home, either to downsize or because of a move to live with a relative or into care. This may result in funds being released, which may be considerable. Thoughts may turn to whether now is the time

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Should You File a Formal Complaint with HMRC?

HMRC has not been getting good press lately. Time spent waiting for a tax refund, an answer to a letter, or over an hour on the telephone trying to speak to someone with no success has not gone well with HMRC’s ‘customers’. You can complain, but to whom do you complain, and will you get

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Brightline Test for Furnished Holiday Lets (FHLs) Rejected by HMRC

Landlords with furnished holiday lettings (FHLs) face an uncertain future. At the time of the Spring 2024 Budget, it was announced that the tax regime for FHLs would be abolished on April 6, 2025. However, no further details were announced before the general election was called, leaving landlords uncertain as to whether the proposals would

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Do you now need to pay tax on your dividend income?

The fall in the dividend allowance in recent years may mean that you must now pay tax on your dividend income for the first time. The dividend allowance The dividend allowance was introduced on April 6, 2016. It is available to all taxpayers regardless of the rate at which they pay tax, in addition to

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