Influencers and Gifted Products: Is That Freebie Taxable?
Gifted products received in return for content can be taxable, just like cash. Here's how HMRC treats freebies, how to value them, and how to put things right if you haven't declared them.
Autumn Budget 2026: What Might Change, and Should You Act Now?
Ahead of the Autumn Budget on 28 October, we look at the changes most widely tipped: capital gains tax, property, inheritance tax, pensions and savings. We also give our view on whether it's worth acting before Budget day, or better to wait.
Home, Office or Somewhere Else? Understanding the Tax Rules on Employee Travel
For many employees, travelling for work is simply part of the job. But from a tax perspective, where you are travelling to and from can make a significant difference.
A recent First-tier Tribunal case, Kwai [2026] TC 09952, has highlighted an important point for employees who work across a number of locations: you do not necessarily need to have one fixed office for an area to be treated as your permanent workplace.
10 Tax Reliefs and Allowances Sole Traders Often Overlook
As a sole trader, there are a number of legitimate tax reliefs, allowances and deductions that can reduce your overall tax liability. Some are well known, such as claiming business expenses, while others are much easier to overlook. From working from home and business mileage to pension contributions and loss relief, here are 10 areas worth considering when reviewing your tax position.
Six Things UK Landlords Should Be Doing Before April 2027
Property has been the most heavily legislated corner of the UK tax system for a decade, and the next change is already law. From April 2027, rental profits move onto their own rates of 22%, 42% and 47%. Here's what's coming, and six things worth doing before it lands.
Goods taken from stock for own use: cost, or market value?
If you run a shop, salon, pub or farm, you almost certainly take stock for your own use. HMRC treats that as a tax event, and the rules changed in your favour from April 2024. Many businesses are still calculating the figure the old way and paying more tax than they need to.
Statutory Residence Test: Are You UK Tax Resident?
Are you UK tax resident?
Your UK tax residence position can have a significant impact on how much tax you pay in the UK, particularly if you have overseas income, investments, property or other assets.
CIS and the Domestic Reverse Charge - What Every Contractor and Subcontractor Needs to Know
A common misconception is that if work falls within CIS, the Domestic Reverse Charge automatically applies, or that all work carried out on residential properties is outside CIS. Neither of these statements is correct. This guide explains when CIS applies, when the Domestic Reverse Charge applies, and how the two interact.
FRS 102 Lease Changes: What the New On-Balance-Sheet Rules Mean From January 2026
From January 2026, FRS 102 brings most leases onto the balance sheet. Here’s what the change means for UK business owners now that it’s in effect.
Financial Due Diligence: Why It Matters Even in Small Transactions
Financial due diligence isn’t just for big-ticket deals. Here’s why UK small business owners should look closely at the numbers before any transaction, however modest.
Common Self Assessment Penalties (and How to Avoid Them)
Every year, thousands of taxpayers across the UK are caught out by HMRC penalties that could easily have been avoided. Whether you're a sole trader, landlord, or company director, understanding how Self Assessment penalties work, and where the common traps lie, can save you real money.
Sole Trader or Limited Company: Which Business Structure Is Right for You?
One of the first major decisions any new business owner faces is whether to trade as a sole trader or incorporate as a limited company. In this guide, we break down the tax mechanics behind both structures, so you can make a properly informed decision, not just a default one.
Difference Between Trading and Selling Personal Items: When Does HMRC Consider You to Be ‘Trading’?
With the growth of online selling platforms, many individuals are unsure when selling personal belongings becomes taxable trading activity. This article explains the key differences between disposing of personal items and carrying on a trade, how HMRC determines trading status, and the impact of the £1,000 trading allowance. It provides clear guidance to help individuals understand their tax position and avoid unintended compliance issues.
VAT Margin Scheme & Global Accounting Scheme (Margin Scheme)
A clear and practical guide to the VAT Margin Scheme and Global Accounting Scheme. This article explains how VAT is calculated on profit margins rather than full selling prices, who can benefit, and the key compliance requirements HMRC expects. Ideal for businesses dealing in second-hand goods, antiques, or high-volume resale stock seeking to improve cash flow and ensure VAT compliance.
Property Loss Relief Explained: Reducing Inheritance Tax When Property Falls in Value After Death
When administering an estate, executors often assume that the value of a property for Inheritance Tax (IHT) purposes is fixed at the date of death. However, if land or buildings are subsequently sold for less than their probate value, it may be possible to reduce the estate's IHT liability by claiming Property Loss Relief.
Normal Expenditure Out of Income: A Powerful IHT Exemption
When people think about reducing their Inheritance Tax (IHT) liability, they often focus on the £3,000 annual gift exemption or the seven-year rule. However, one of the most generous and frequently overlooked reliefs is the Normal Expenditure Out of Income exemption.
Entertainment Claims by Companies: What Is Allowed for Tax?
A practical guide to company entertainment expenses, including client entertaining, business hospitality, contractual entertainment, promotional events and common tax pitfalls.
R&D Tax Relief in the UK in 2026: Is It Still Worth Claiming?
Is R&D tax relief still worth claiming in the UK in 2026? Learn what changed, who can claim, common HMRC risks, and how to prepare a stronger R&D claim.
Overseas Workday Relief (OWR) – A Guide for New UK Residents
For qualifying employees, OWR can reduce UK income tax by excluding earnings that relate to employment duties performed outside the UK. This can be particularly valuable for senior executives, internationally mobile professionals, and employees who continue to travel extensively for work after becoming UK tax residents.
VAT Margin Scheme Explained: A Valuable VAT Saving Opportunity for Businesses
The VAT Margin Scheme can provide valuable VAT savings for businesses dealing in second-hand goods, antiques, artwork and collectors' items. However, the benefits rely on maintaining the correct records and following HMRC's invoicing requirements.
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