Business Guides

Basis period rules in line for reform

Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such...

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Insider: September 2021

Everyone who is eligible for the last SEISS grant should have received a personal start date from HMRC in recent months. These gave self-employed taxpayers a date from which they can apply for the support, with the first applications being accepted from 29 July 2021....

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Starting a new business after COVID-19

Not much can stop determined entrepreneurs from building a new business from the ground up, even during such challenging times as a COVID-19 or its ensuing fallout. The pandemic has proven a huge challenge for businesses, with 396,155 UK firms closing in 2020...

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Taking charge of planning your estate

Soaring house prices coupled with certain thresholds being frozen in the most recent Budget have the potential to drag more estates into the inheritance tax net over the coming years. Back in March 2021, Chancellor Rishi Sunak confirmed the main inheritance tax...

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Insider: August 2021

The stamp duty land tax-free threshold in England and Northern Ireland reduced last month, as the tax holiday introduced in July 2020 began to be phased out. The first cliff edge for residential property buyers came and went on 30 June 2021, marking the end of a...

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Tax planning for residential landlords

After a challenging year for the UK’s residential landlords, you might have read about improvements to the buy-to-let mortgage market in recent weeks. In the three months to 31 May 2021, the average interest rates for residential landlords had declined. A two-year...

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The pros & cons of electric cars

Despite the potentially high personal tax charge, many employees still enjoy and prefer the convenience of being offered the use of a company car by their employer. Those employers familiar with the benefit-in-kind tax rules will be aware the tax impact on the...

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Insider: July 2021

Retailers that heavily rely on online sales to EU consumers need to comply with VAT reforms, which were introduced on 1 July 2021. The new rules were originally designed to stop an estimated €7 billion in annual VAT fraud by non-EU ecommerce sellers, mainly those in...

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An introduction to VAT

VAT is a business tax on the supply of goods and services. It is charged at varying rates depending on what is being supplied, who it is being supplied to and where it is being supplied to. But with Brexit, temporary rate changes due to COVID-19, the rollout of Making...

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Insider: June 2021

Smaller businesses have until the end of the month to apply for grants to help them adapt to new customs and tax rules when trading with the EU. The £20 million SME Brexit Support Fund offers eligible UK traders grants of up to £2,000 to access practical support,...

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