Mileage rates for landlords

March 07, 2018 | by Sian Kelly | No comments


In preparation for the introduction of digital recording and reporting, landlords with unincorporated property businesses have been able to benefit from a number of simplifications, including cash basis accounting.

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Taxation of savings- what is tax-free?

February 28, 2018 | by Sian Kelly | No comments

There is no one answer to the amount of savings income and, for 2017/18, the answer can range from £0 to £18,650, depending on personal circumstance.

When looking at tax-free savings, there are a number of elements to take into account:

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How do I correct VAT errors?

February 21, 2018 | by Sian Kelly | No comments

Making a mistake in your VAT return is easily done. Maybe you missed something out accidentally or added up some figures wrongly. However, should this happen and you discover that you have made a mistake in a return which you have already filed, don’t panic

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Tax-free rental income up to £8,500

January 31, 2018 | by Sian Kelly | No comments

By making the most of the rent-a-room relief and the £1,000 property income allowances, it is possible to receive tax-free rental income in 2018/19 of £8,500 (while utilising your personal allowance elsewhere).

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Corporate gains – end of indexation allowance

January 24, 2018 | by Sian Kelly | No comments

To date, companies have been able to benefit from relief for inflationary gains in the form of indexation allowance when they dispose of an asset. The indexation relief is deducted in computing the chargeable gain or allowable loss.

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Claim disincorporation relief while you can

January 23, 2018 | by Sian Kelly | No comments

Changes to the taxation of dividends have reduced the tax advantages associated with operating as a company. Add into the mix the additional burdens imposed on companies – such as the need to file accounts and an annual confirmation statement at Companies House – and it is easy to see why the question of whether it would now be better to operate as an unincorporated business may arise.

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