Furnished Holiday Lettings Tax Guidance
What is a Furnished Holiday Let? A Furnished Holiday Let, also known as a FHL, is a certain type of rental property classification in the UK and Ireland (and some European countries). As a holiday let owner under this classification you are entitled to certain...
Completing Your Online Self Assessment Tax Return
The deadline for submitting a self-assessment paper tax return has been and gone for another year. The annual deadline for submitting your online self assessment tax return and paying any tax owed is midnight on 31st January. Do I need to fill in an online self...
Pension Freedoms Hidden Traps
The 6 April 2015 pension freedoms represented a major shift in how you can access your pensions. It means anyone aged 55 and over can take the whole amount as a lump sum, paying no tax on the first 25%. The rest is taxed as if it were a salary at their income tax...
Is business credit card interest tax deductible?
It's human nature to want to save money whenever realistically possible, and paying less in taxes is one way to achieve that. Figuring out what expenses are tax deductible, and the complexities of the tax system, can be a frustrating process. So, is business credit...
IHT Business Property Relief | How To Secure It
How can you secure IHT business property relief? Any ownership of a business, or share of a business, is included in the estate for Inheritance Tax (IHT) purposes. However, a business can qualify for relief from inheritance tax. Business Relief reduces the value of a...