Income Tax

March 7, 2018

Property owners’ lose 50% of higher rate tax relief on finance costs

Under new rules that came into effect from April 2017 the tax relief on mortgage costs for residential landlords is being gradually restricted to the basic rate of tax. Many landlords of residential properties that used to benefit from full tax
February 27, 2018

Payments made to son not a wage

A recent First-Tier Tribunal case examined whether a father's payment of wages to his son was an allowable expense. We learn that the appellant in this case made a number of payments to his son whilst he was studying at university. HMRC questioned
February 27, 2018

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of
February 14, 2018

What to do if you have stopped work

HMRC issues some helpful guidance that covers what you need to do if you stopped work. The guidance covers the main reasons that you might have stopped work such as being made redundant or leaving your job. If you have been made redundant then you