VAT registration is compulsory for any UK established persons who are in business and make or intend to make taxable supplies should either one of the following tests are satisfied: Historical test Under the ‘historical test’, if taxable sales have exceeded £85,000 in any rolling 12-month period, the business must register within the next month […]

The property allowance is a useful allowance that allows you to earn property income of up to £1,000 tax-free each tax year. If your income from property is more than this, you can deduct the allowance instead of actual costs where it is beneficial to do so. Claiming the allowance is optional and will not

Main residence relief is a valuable relief which prevents a tax charge arising where a gain is realised on the disposal of a property which is your only or main residence. Where a property has been an only or main residence for some but not all of the period of ownership, the gain is sheltered

The tax legislation contains a number of exemptions which allow benefits in kind to be provided to employees without a tax charge arising. Some of the exemptions are more useful than others. One of the more valuable ones is that for mobile telephones. The exemption enables you to provide one mobile phone to an employee