Blog
Still time to roll over FHL gains
The abolition of the furnished holiday lettings (FHL) regime hits on 6 April 2025. However, this isn’t necessarily the end of all the associated tax breaks. How and when can you use rollover relief to save capital gains tax from FHLs?
New company - when to start paying yourself a salary?
You’ve decided to start a new business. You’ve set up a company but need to find a premises and deal with other formalities before trading can begin. Is it worth you taking a salary from the company in the meantime?
Navigating the risks of Valentine’s Day
It’s Valentine’s Day later this week and love is in air (apparently). However, an unwanted Valentine’s gesture in the office could lead to awkwardness, discomfort or even legal issues. As an employer, how can you ensure Valentine’s Day passes smoothly?
Last orders to meet deadline to improve your state pension
After a few false starts the government is about to blow the whistle on the end of the extra time granted for you to plug any gaps in your NI record. Why should you bother with this and how much will it cost?
Compensation vs consideration: what’s the difference?
Your business will receive a big payment for a breach of contract committed by a supplier. The supplier has asked for a VAT invoice from you so they can claim input tax on their payment. Is this correct?
Minimise late payment penalties
You still need to pay some of the self-assessment bill that was due on 31 January 2025. As a result, interest will be added to the debt and penalties can follow. What steps can you take to prevent or mitigate them?
Asbestos problem - can a tax break help with the cost?
Asbestos has been discovered during the refurbishment of one of your company’s factories. Environmental waste rules are going make it expensive to remove. How might a tax break mitigate the cost?
Can you claw back enhanced maternity/adoption pay?
If you agree to pay more than the statutory minimum during maternity/adoption leave, can you ask an employee to sign an agreement under which they agree to pay back the enhancement in certain circumstances?
Are employer pension contributions still worth it?
Does the potential inheritance tax (IHT) charge on pensions that will apply from April 2027 mean that employer pension contributions are a tax break of the past, or are they still a winner?
Can you ban second jobs?
South Cambridgeshire District Council launched a four-day working week trial in 2023, but it has now transpired that 16% of employees have taken on other paid work during their extra day off (although some of these already had second jobs before the trial). Can you ban employees from taking on second jobs?
Income shifting - a tax trap
The tax affairs of Harry Potter star Rupert Grint were again the focus of a dispute with HMRC. The First-tier Tribunal (FTT) had to decide if the transfer of his personal right to income to a company he owned was tax avoidance. How did the FTT rule?
Is there a limit on tax relief for travel expenses?
Following a PAYE compliance visit, a tax inspector has challenged various expenses claimed by the company’s directors when staying away on business. He says they are excessive and so not fully tax allowable. How should you respond?