Gifts to a spouse or civil partner
Transfers of assets between spouses or civil partners are usually free from Capital Gains Tax (CGT). When you give or sell an asset to your spouse or civil partner, it is treated as a disposal for CGT
NIC and tax after reaching State Pension age
If you continue working after reaching State Pension age, your National Insurance position changes, but your Income Tax obligations largely remain the same. Once you reach State Pension age, you stop
Setting off losses against other income sources
If you are self-employed or a member of a partnership, you may be able to claim tax relief when your business makes a loss. There are several ways trading losses can be used, but each loss can only be
Tax on savings interest
If your taxable income for the 2026-27 tax year is less than £17,570, you will not pay any tax on the interest you receive. This figure combines the £5,000 starting rate for savings (taxed at 0%) with
How bonuses are taxed
Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the
Reclaiming VAT on taxi and ride-hailing fares
Changes announced in the Autumn Budget have removed the use of a niche VAT scheme known as the Tour Operators Margin Scheme (TOMS) for private hire vehicle operators from January 2026. TOMS was
Cash flow resilience in uncertain trading conditions
Rising costs and economic uncertainty have made cash flow management more important than ever. While many businesses focus on profit, it is cash that determines whether a business can meet its day to
New legal duty for landlords under the renters’ rights act
Landlords must now comply with an important new legal requirement introduced under the Renters’ Rights Act, which brings significant reform to the private rented sector in England. The government has
Who pays Income Tax at Scottish rates?
The rules as to who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer or not. For most people, determining Scottish taxpayer status is
What is the Annual Investment Allowance?
The Annual Investment Allowance (AIA) is a valuable tax relief that allows businesses to deduct the full cost of qualifying plant and machinery from their taxable profits. This means that, instead of