Are casual payments taxable?
Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances.
The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is broad in scope, catches income that would not
Who needs to register for anti-money laundering supervision
If your business operates in a sector covered by the Money Laundering Regulations, you must be monitored by a supervisory authority to ensure compliance. This article outlines who needs to register with HMRC for anti-money laundering (AML) supervision.
Your business must be registered with a
War Widows Recognition Payments Scheme
Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment.
This scheme was launched in October 2023 to help war widows and widowers who lost their service-attributable pensions due to remarriage or entering new relationships
How do HMRC define “wholly and exclusively” for tax purposes
Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the key test.
When deciding whether an expense is deductible or not it is important to bear in mind that the expenditure must be incurred wholly and exclusively for the purposes of your trade or employment. This is a
Reclaiming duty moving goods to Northern Ireland
Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021
The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on goods moved into Northern Ireland, provided specific conditions are met. It applies retrospectively,
Interactive online tool for tax compliance check
HMRC’s new Q&A tool guides you through each step of a compliance check.
The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax compliance check. Available on GOV.UK, the Interactive Compliance Guidance tool brings together key
Higher penalties for MTD filers
Making Tax Digital for Income Tax will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to start preparing to submit quarterly updates, keeping digital records and a new penalty system will apply.
Initially, MTD for IT will apply to
Save up to £2,000 a year on childcare costs
Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility now and start planning ahead.
Working families whose
The transition from FHL to Property Rental business
Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises.
The tax advantages that
State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference
