Death and Taxes
For business owners and farms The UK government has announced significant reforms to Inheritance Tax (IHT) reliefs for business and agricultural properties, set to take effect from April 6, 2026. The headline proposals have been well-rehearsed but the realisation of some of the implications is coming out more gradually. Key Changes: Relief Cap: Currently, Business […]
Be alert
Tax scams are a persistent threat in the UK and understanding common scam tactics and knowing how to protect oneself is crucial. Common Types of Tax Scams Phishing Emails and Texts: Scammers impersonate HM Revenue and Customs (HMRC), sending messages that claim you’re eligible for a tax rebate or owe unpaid taxes. These […]
Furnished Holiday Lettings – the changes from April 2025
What Are Furnished Holiday Lettings (FHL)? A furnished holiday letting is a property that is rented out on a short-term basis usually to holidaymakers or tourists. These properties are fully furnished, with all the necessary amenities, including appliances, linens, and furniture, to ensure that guests enjoy a comfortable stay. Typically, FHLs are rented out for […]
Making Tax Digital for Income Tax – the changes which need to be addressed now
Designed to modernise the tax system, MTD for Income Tax Self-Assessment (MTD for ITSA) aims to streamline reporting, reduce errors, and ensure a more efficient tax process. Here’s everything you need to know about Making Tax Digital for Income Tax. What is Making Tax Digital for Income Tax? MTD for ITSA is a government initiative […]
The Annual Tax on Enveloped Dwellings (ATED)
Originally introduced to discourage the ‘enveloping’ of residential properties within corporate structures for tax mitigation, ATED has undergone several changes since its inception. Revaluation and Chargeable Amounts Properties subject to ATED are revalued every five years, with the most recent valuation date being 1 April 2022. This valuation applies to chargeable periods from 1 April […]
