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.
How Are Employee Shareholder Exits Taxed?
Employee shareholder exits in the UK can trigger complex tax outcomes, particularly where the boundary between capital gains tax and employment income is unclear. This article explores how different exit structures are taxed and what determines whether proceeds are treated as capital or income.
What Is the Construction Industry Scheme (CIS)? A Practical Guide for Contractors and Subcontractors
The Construction Industry Scheme (CIS) plays a major role in how contractors and subcontractors manage tax within the UK construction sector. This guide explains how CIS works, the difference between standard and gross payment status, common compliance risks, and the new HMRC anti-fraud rules construction businesses need to understand. Learn how to stay compliant, protect cash flow, and avoid costly CIS penalties with practical guidance
Understanding UK Corporation Tax Loss Relief
When a company incurs losses, understanding the reliefs available can help reduce future tax liabilities and improve cash flow. UK corporation tax rules provide a range of options depending on the type of loss and the company’s circumstances.
Employed or Self-Employed? Understanding Employment Status for UK Tax Purposes
One of the most important questions for any business engaging workers is whether that worker is employed or self-employed. This distinction is not simply a matter of what is written in the contract - it is determined by HMRC practice and case law.
High Value Council Tax Surcharge UK (2026): What Property Owners Need to Know
Overview of the UK high value council tax surcharge for 2026, including rates, valuation rules, liability changes, and key tax implications for residential property owners above £2 million.
Partial Exemption VAT Explained (UK Guide for Businesses)
Struggling with partial exemption VAT? Discover how UK businesses can maximise VAT recovery, stay compliant with HMRC, and avoid overpaying tax.
Employment Allowance Explained: How to Reduce Your National Insurance Bill
For many employers, Employment Allowance is one of the simplest ways to reduce your tax bill, yet it’s still frequently misunderstood or missed altogether.
PSA vs P11D: A Practical Guide to Benefits in Kind
Providing benefits to employees, whether it’s a company car, private medical insurance, or even staff entertainment, comes with tax responsibilities. But how you report and pay that tax depends on the type of benefit and how you choose to deal with it.
Share-for-Share Exchange and Advance Clearance: A Guide for UK Businesses
Looking to merge, restructure, or close a UK business? A share-for-share exchange can help you defer Capital Gains Tax while maintaining shareholder continuity. Combined with HMRC advance clearance, it provides certainty that your transaction will be tax-neutral. In this guide, we explain the process, practical steps, and common pitfalls to avoid when using these tools for tax-efficient corporate restructuring.
The Tax Benefits of Alphabet Shares for UK Companies
Alphabet shares offer UK business owners a flexible way to manage profits, retain control, and plan for the future. By creating different classes of shares, companies can direct dividends efficiently, optimise tax for family members, and implement advanced inheritance tax (IHT) strategies, such as shares with or without winding-up rights. These structures help balance income distribution, capital retention, and estate planning, making them a powerful tool for family businesses and owner-managed companies.
Understanding When an Option to Tax Is Needed: A Practical Guide for Property Owners
In this blog, we explain when an Option to Tax is relevant, what it covers, and the key points to consider — particularly for commercial property owners, developers and investors.
Business Asset Disposal Relief (BADR): What It Is and How the Rules Are Changing
Business Asset Disposal Relief (BADR) is one of the most valuable tax reliefs available to UK business owners. It allows qualifying gains from the sale of a business, or shares in a trading company, to be taxed at a reduced Capital Gains Tax (CGT) rate. However, upcoming changes to CGT rates from April 2026 mean the tax savings available through BADR are reducing.
The Hidden Tax Trap in Home Office Conversions
Converting your garage into a home office and asking your limited company to cover the cost may seem sensible, but it can trigger an unexpected personal tax charge. Before you start building, understand the hidden benefit-in-kind trap and how proper planning can significantly reduce the exposure.
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