Category Archives: A-Z

Furnished Holiday Lets Tax Tips

holiday lets tax tips

With less people holidaying overseas the demand for UK holiday lets has soared. They also seem to have taken on a mythical status in the tax world due to some of the more generous ways that the tax system deals with them.  So let’s quickly take a look at some of […]

Entertainment – Tax Considerations

entertainment tax considerations

The entertaining of clients, customers and staff has always been an important part of business strategy. It can help to strengthen and maintain client relationships and improve staff morale and loyalty. But alongside this are important tax considerations.   What is entertainment? Essentially, it is hospitality of any kind. This […]

Divorce – Tax Considerations

Divorce tax

The end of a relationship, particularly divorce is difficult for so many reasons, but you may not realise that divorce and the end of a marriage or civil partnership, could lead to tax complications.   Most people know that transfers of assets between married or civil partnered couples are free […]

Capital Allowances

Capital Allowances

Capital allowances are one of the most complex areas within UK tax legislation. A lot of the rules originally came from case law until the various decisions were legislated within the Capital Allowances Act of 2001. Broadly speaking, capital allowances are a tax-approved form of depreciation.  Whereas accounting principles allow […]

Clothing – can clothing for work be set against a tax bill?

Many of us buy clothing that, in reality, we only wear for work – and we are often asked if the cost of these clothes can be set against the tax bill. The short answer is no: HM Revenue & Customs is adamant that such expenditure has a purpose not […]

Bad Debt – what are the tax reliefs on bad debt?

bad debt tax

Not many businesses operate without a bit of bad debt, although hopefully it is just the odd one! However, for tax purposes, there are different rules depending on the tax involved. VAT There are detailed instructions for VAT relief on bad debts which is set out in VAT Notice 700/18, […]

Bacon Sandwiches – trivial benefits for employees

bacon sandwiches

There are numerous accounts of tax officers trying to tax the provision of tea and coffee for employees, and whilst some of these amount to an urban myth, the tax rules about providing a bacon (or vegan alternative) sandwich for your employees as a trivial benefit are not straightforward. HMRC […]