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05 Oct 23

Income Tax in Scotland if you have more than one home

There is an interesting anomaly that can affect taxpayers with homes in Scotland and other parts of the UK. Where this is the case, the question arises as to whether or not the

05 Oct 23

Paying tax by Certificate of Tax Deposit

The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the

05 Oct 23

When you can and cannot use the Rent-a-Room Scheme

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from

05 Oct 23

Transferring IHT unused nil rate band

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a

05 Oct 23

Reporting self-employed profits 2023-24

The basis of assessment reforms will change the way trading income is allocated to tax years. The changes will affect sole traders and partnerships that use an accounting date

03 Oct 23

Government to support action against late payers

Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms. These demands take entrepreneurs away from their core tasks of

03 Oct 23

National Living Wage potential boost

The government looks likely to accept the recommendations of the Low Pay Commission with a boost to the National Living Wage rate. In summary: National Living Wage will rise to

28 Sep 23

VAT Capital Goods Scheme

The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10 years. The scheme seeks to agree a fair and

28 Sep 23

Replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental

28 Sep 23

Community Investment Tax Relief scheme

The Community Investment Tax Relief (CITR) scheme is designed to encourage investment in accredited Community Development Finance Institutions (CDFIs). The tax relief under the

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Income Tax in Scotland if you have more than one home

Paying tax by Certificate of Tax Deposit

When you can and cannot use the Rent-a-Room Scheme

Transferring IHT unused nil rate band

Reporting self-employed profits 2023-24

Government to support action against late payers

National Living Wage potential boost

VAT Capital Goods Scheme

Replacement of domestic items relief

Community Investment Tax Relief scheme

Claim flat rate expenses for work clothing and tools

National Insurance credits and Child Benefit

Taxable & tax-free state benefits

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