Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a gain nor a loss. Prior to 6 April 2023, a couple are only able to benefit from no gain/no loss transfers until the end of the tax year in which

Employees often need to undertake business trips and it is common practice to reimburse the employee’s fuel costs by means of a mileage allowance. The tax rules allow mileage payments to be made tax-free up to certain limits. However, the rules are different depending on whether the employee is driving their own car or a

Pre-pandemic, giving discounts to employees was invariably only offered by the larger companies. However, because employee benefit schemes save the employer money, many SMEs are looking to provide such schemes. The discounts need not relate to the company’s products – there are schemes available that give employees access to a wide range of deals with

Business entertaining – The tax position Many businesses view entertaining clients and customers to be an important part of their marketing budgets, whether as a networking opportunity, a thank you for business or an incentive to attract more business – but what is the tax position? The tax rules are clear. HMRC define entertainment expenses

Property PM article 3 SDLT, LBTT and LTT hit of buying an investment property Where a property is purchased in England or Northern Ireland and the consideration exceeds the relevant threshold, stamp duty land tax will be payable. However, where the property is an additional residential property, a supplement applies. For properties in Scotland, the