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30 Sep 24

Setting up a Civil Partnership

Civil Partners enjoy the same tax and other advantages as married couples. To set up a civil partnership in England or Wales, both partners must be eligible, meaning they are over

26 Sep 24

Redundancy pay and tax

There is a tax-free limit of £30,000 for redundancy pay regardless of whether it is your statutory redundancy payment or a higher payment from your employer. If you have been

26 Sep 24

VAT group registration

There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person

26 Sep 24

What is fiscal drag?

The freezing of tax thresholds often leads to a phenomenon known as fiscal drag. When tax thresholds remain unchanged, taxpayers will likely pay more tax as their earnings rise

26 Sep 24

Higher rate relief pension contributions

You can typically claim tax relief on private pension contributions up to 100% of your annual earnings, subject to certain limits. Tax relief is applied at your highest rate of

26 Sep 24

Current rates for Capital Gains Tax (CGT)

CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain,

26 Sep 24

Gifts and Inheritance Tax

Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known as "potentially exempt transfers" (PETs), can become fully

23 Sep 24

Business cashflow

The government offers the following information regarding business cashflow. If you do not have enough money coming in to pay for goods, services and taxes your company has, you

23 Sep 24

What is fuel duty?

The Office for Budget Responsibility (OBR) has offered the following explanation: “Fuel duties are levied on purchases of petrol, diesel and a variety of other fuels. They

19 Sep 24

Is there a partnership in place?

A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with the intent to make a profit. Partnerships can take various

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