High Income Child Benefit Charge – not just for higher rate taxpayers  The High Income Child Benefit Charge (HICBC) is a tax charge that claws back payments of child benefit where the recipient or the recipient’s partner has income of at least £50,000 per year. Where both the recipient and their partner have income of […]

In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for the expenses of running a property business.  Allowable expenses  The general rule is that a landlord can deduct revenue expenses that are incurred wholly and exclusively for

CGT or IHT  Sometimes there is a choice of which tax to pay and where a person owns an investment property, they may be able to exercise a degree of choice whether they take a capital gains tax hit or their beneficiaries pay inheritance tax. However, there is something of a gamble here – while

First-time buyer relief may reduce the stamp duty land tax (SDLT) that a first-time buyer pays when they buy their first home in England or Northern Ireland. A similar scheme applies in Scotland for Land and Buildings Transaction Tax (LBTT), but there is no first-time buyer relief from Land Transaction Tax in Wales. This articles

Relief for pre-trading expenses When you start a business, you will need to incur costs before you are able to start trading. Did you know that you are able to claim tax relief for these? Relief is available for unincorporated businesses for income tax purposes and also for companies for corporation tax purposes. Typically, you