Holiday Lets averaging election
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a furnished holiday letting, the following
Landlords – claiming maintenance and repairs costs
Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The expenses must relate wholly and exclusively for the purposes of
Time to Pay your tax
Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. Any tax, duty, penalties or
HMRC awards £5.5m in grant funding
HMRC’s has awarded twelve voluntary and community sector organisations a share of £5.5 million in funding to help customers with their tax affairs.
The £5.5 million funding pot applies over a three-year programme from
Help to Save scheme
The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is
Gifts of shares to minor (under 18s) children
The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the income arising is treated as the settlor’s income for all tax purposes. A settlor can be said to