What qualifies for private residence relief? Private residence relief is a well-known relief but one which is often misunderstood. It applies to remove the liability to capital gains tax that would otherwise apply where a homeowner makes a gain on the disposal of their only or main residence. Like all reliefs, it is dependent on

‘Roll over ‘ relief – what happens if an asset not brought into business immediately There is usually a capital gains tax (CGT) charge when a chargeable asset is sold at a gain (subject to the individual personal allowance for an individual). However deferment of the gain may be possible should ‘rollover relief’ be available.

The role of the Adjudicators Office Few taxpayers are aware that the Adjudicators’ Office (AO) exists. The AO was set up in 1993 to provide an independent free-to-use complaints procedure when all avenues of complaint regarding HMRC and the Valuation Office (VO) have been exhausted. Its primary purpose is to review how HMRC and the

Should I change my accounting date?  In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more than £10,000 the basis period rules are being reformed.   At present, once an unincorporated business is established, it is

Last reviewed: November 2026 The High Income Child Benefit Charge (HICBC) applies if you or your partner have income over £60,000. It takes back 1% of your Child Benefit for every £200 over £60,000, so at £80,000 the whole amount is repaid. These thresholds have applied since April 2024; before that the charge started at