Blog

Stamp Duty Land Tax (SDLT) classification of properties as residential, non-residential, or mixed-use is crucial as it dictates the applicable SDLT rates. Here’s what you need to know: Definition of Mixed-Use Property A mixed-use property combines both residential and non-residential elements. Examples include a flat attached to a doctor’s surgery, an office with residential accommodation

Furnished holiday lettings (FHLs) offer several significant tax advantages over residential lets, particularly in terms of capital gains tax (CGT) reliefs: Treatment as a Trade Under CGT legislation, FHLs are treated as a trade rather than as a residential property investment. This classification grants FHL businesses access to certain reliefs available to traders. Qualifying as

In the realm of employee benefits, certain tax exemptions can significantly enhance their value. One such exemption, particularly valuable, pertains to employer-provided mobile telephones. Here’s a comprehensive guide on how this exemption works, potential pitfalls to avoid, and key considerations: 1. Provision of the Phone The tax exemption applies under specific conditions: Ownership: The mobile

Employers evaluating staffing options in 2024 can potentially reduce costs by employing multiple part-time workers instead of one full-time employee, leveraging advantages in National Insurance contributions (NIC). Here’s a detailed look at how this strategy can benefit both employers and employees: 1. Understanding National Insurance Contributions (NIC) Employers are required to pay secondary (employer’s) Class

If used correctly, dividend waivers can be an effective planning tool, particularly where one shareholder is a higher-rate or additional rate taxpayer and others are not. However, several points need careful consideration. When a private limited company is incorporated, it is usual for the issued shares to be created as ordinary shares divided into set