For inheritance tax (IHT), there are potentially two nil rate bands available. The first – the nil rate band – is available to everyone and is set at £325,000 until 5 April 2026. An estate does not have to pay any IHT up to this amount. The second nil rate band is the residence nil

The Construction Industry Scheme (CIS) is a tax deduction scheme under which tax is deducted from payments made to subcontractors for construction work unless the subcontractor is registered with HMRC for gross payment status. HMRC recently published guidance on the application of the CIS to property investment companies after it came to their attention that

If you use an agent to manage a let property, they may incur expenses, such as repairs and cleaning costs, on your behalf and recharge these to you. Where this is the case, will you need to pay VAT on those expenses? Recharge or disbursement? Where costs are incurred by the agent and passed onto

The summer is a popular time for events and event parking is often limited. If you have a drive or field that you do not use, you could consider renting it out to make some money. This need not give rise to a tax headache. However, it should be remembered that all income from renting

HMRC’s basic premise is that where a company pays a personal bill, there will be tax and National Insurance implications unless the expense is work related, incurred ‘wholly, exclusively and necessarily’ for the job. How the tax is accounted for and whether it is solely the employee who is liable to NI or both the