Holiday let property – reminder to check your occupancy stats
The Furnished Holiday Let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade and therefore qualify for additional tax benefits.
In order to qualify as a FHL, the following criteria need to be ... read more
Who is entitled to claim statutory maternity pay?
Employees that are pregnant are eligible to take up to 26 weeks of maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This means that an employee can take up to a full year of ... read more
The end of credit card payment surcharges?
From 13 January 2018, it will become illegal for any business to charge a fee in addition to the advertised price of a transaction to consumers (widely known as surcharging). For example, a travel company charging more to use a credit card rather ... read more
Basic monthly tasks if you run your own payroll
One of the most time-consuming admin tasks associated with the running a small business can be dealing with the payroll.
Generally speaking, you can:
Run your own in-house payroll, or
Hire your accountant to do the work for you.
If you operate ... read more
Can we claim for marketing, entertainment and subscription costs?
The self-employed are often concerned if an expense is allowable or not for tax purposes. In this article, we will briefly look at the rules for claiming marketing, entertainment and subscription costs.
Most marketing expenses are treated as ... read more
Changes to approved English apprenticeships
The Apprenticeships (Miscellaneous Provisions) Regulations 2017, which only apply in relation to England, will come into force on 15 January 2018. The new Regulations:
make it a requirement that off-the-job training be provided during the ... read more
Beware iTunes gift card scam
HMRC is warning members of the public of a worrying iTunes gift card scam. The fraudsters are cold calling victims purporting to work for HMRC and warning them that they owe HMRC large amounts of tax which they can only pay off using digital vouchers ... read more
Staircase tax to be reversed
The Government has announced that the business rates anomaly known as the ‘staircase tax’ is to be axed. The 'staircase tax' affects businesses that operate in adjoining units or rooms, but are accessed from a communal lift, corridor or staircase. ... read more
Relief if you let and then sell your home
One of the most often used and valuable of the capital gains tax (CGT) exemptions concerns the sale of the family home. As a general rule there is no CGT on a property which has been used as the main family residence. An investment property which has ... read more
Fair payment practices for small businesses
In October 2017, Paul Uppal (a former Conservative MP and entrepreneur) was appointed to the newly-established post of Small Business Commissioner (SBC) based in Birmingham. At the time, it was estimated that the office of the SBC would be ... read more
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