Latest Blogs

12/08/2025

Tax implications of writing off a director’s loan

Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so.

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12/08/2025

Using former FHL losses

From 6 April 2025, furnished holiday lets are treated in the same way as other lets for tax purposes.

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12/08/2025

Tax-free trivial benefits

The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without an associated tax or National Insurance liability, such as Christmas or birthday gifts. However, not all benefits qualify, and there are some pitfalls to be wary of.

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07/07/2025

Capital allowances for cars

Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners and sole traders have the option of using the simplified expenses system instead.

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02/07/2025

Making a loan from a personal company to family

There are many possible situations in which a person may make a loan to a family member. Where the parent has a personal or family company and there are unextracted profits in the company, it may seem sensible for the company to lend the money rather than for the parent to do so personally. However, this may have tax consequences.

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02/07/2025

Take advantage of the property rental toolkit

HMRC publish a property rental toolkit which can be used to avoid making common errors when reporting income from property on the Self Assessment tax return. It can be found on the Gov.uk website.

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02/07/2025

When and how do you register for VAT?

If you are running a business you will need to register for VAT if your total taxable turnover in the previous 12 months exceeds the VAT registration threshold of £90,000 or if you expect your taxable turnover to be more than £90,000 in the next 30 days.

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05/06/2025

Employment Allowance on small salary worker

Employer’s National Insurance rose considerably from 6 April 2025. Not only did the rate increase from 13.8% to 15%, but the secondary threshold also fell from £9,100 to £5,000. This is the amount that an employer can pay before a liability to secondary Class 1 National Insurance contributions arises. For 2025/26, the secondary threshold is equivalent to only £96 per week and £417 per month.

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