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No tax charge arises regarding providing a nursery place for an employee’s child at a workplace nursery provided that the associated conditions are met. Unlike the exemptions for childcare vouchers and employer-supported childcare to the extent that these remain available, the tax exemption for workplace nursery places applies without limit. For the exemption to apply,
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Where a landlord makes a loss on their property rental business, the options for using that loss are limited. The rules depend on whether an unincorporated landlord or a company carries on the business. Unincorporated landlords Where a landlord has an unincorporated property business, the general rule is that if a loss is made in
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The answer to this question depends on what type of professional fees have been incurred. Professional fees are income and corporation tax deductible if incurred ‘wholly and exclusively’ for the trade, profession, or business. However, they must not be capital or losses not connected with/ arising out of the trade. The situation is not always
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Landlords with furnished holiday lettings (FHLs) currently enjoy favorable tax advantages compared to those letting residential property on longer-term lets. However, these advantages will end, and from 6 April 2025 FHLs will be treated as other residential lets. However, transitional rules will allow landlords to access some capital gains tax reliefs for a limited period.
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As outlined before the election, the new Government is to go ahead with its proposal to impose VAT on school fees. Legislation was published in draft on 29 July, together with a technical note. From 1 January 2025, education services and vocational training supplied by a private school will be liable to VAT at the
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Anyone who invests in a company is taking a chance, hoping that the directors, as representatives, will use the money to increase the company’s profit. In return for taking this chance, a shareholder receives ‘payback’ usually as a share in the distribution of profits in the form of a dividend. payment is not automatic. For
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