Latest News
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Scottish Budget confirms bands and rates for 2025/26
Ahead of the Scottish Budget, there were rumours that tax hikes were on the way. However, the announcements made on the day will see some easing of tax for lower earners. What’s the full story?
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Overlap relief calculator launched
An interactive tool has been launched to help taxpayers calculate the overlap relief to report on their 2023/24 self-assessment tax returns. What’s the full story?
Newsletters
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Tax and building a workspace at home
Antonia is a self-employed childminder. She’s having an extension built on her home in which she’ll run her business. Is she is entitled to a tax deduction for any of the construction costs?
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BADR - is there a problem for cash-rich companies?
Your company ceased trading several months back and you’re about to wind it up. The trouble is it has substantial cash investments. Will this affect your entitlement to business asset disposal relief (BADR)?
Monthly Focus
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MONTHLY FOCUS: CORPORATION TAX AND TRADING LOSSES
The ongoing high levels of running costs mean that more companies have (or will be) reporting trading losses. How can these be relieved efficiently and when may losses be restricted?
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SPECIAL FOCUS – 2024 AUTUMN BUDGET
The first Labour budget speech since 2010 took place on 30 October 2024, with a headline figure of £40 billion in tax rises. In this special Monthly Focus we summarise all of the key announcements.
Practical Guides
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Tax-efficient exit planning for owner managers
You are the sole director and shareholder of a trading group. You are planning to retire in the near future, and are looking at succession planning options. What different things could you look at?
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Is your FHL business “trading” ahead of April 2025?
As the furnished holiday lettings (FHL) regime is being repealed next year, many landlords are seeking advice as to whether their business may be a trade and so continue to enjoy the benefits attributable to FHLs. What’s the position here?
Tools & Calculators
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Income tax calculator
The introduction of special tax allowances, rates and rate bands which interact differently depending on your level and type of income has made the calculation of income tax liability far from straightforward. Our calculator can be used to work out your income tax liability, and can be used where you receive any combination of earnings, savings income, dividends and most other types of income. It will also calculate any adjustment required to finance costs relating to letting income.
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Company car capital contribution calculator
A company car is taxed according to its list price. This can be reduced if you make a capital contribution towards the purchase of the car. This calculator shows you how much tax could be saved.
Tax Documents
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Alternative ways to challenge HMRC
After several months of trying to get your point across to HMRC you’re getting nowhere. Might a formal review help resolve the issue and how do you go about applying for one?
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Director's or employee's loan account record
Director’s loan account record A taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC’s official rate (3% for 2016/17). Use this document to calculate what, if anything, you need to declare to HMRC. Make a note Where a cheap rate or interest-free loan is no more than
Tax Rates
Calendar
* All dates are subject to possible adaptations