Susan is a self-employed childminder. She is planning to have an extension built on her home, in which she’ll run her childminding business. Susan would like to know if she is entitled to a tax deduction for any of the construction costs. Partner and Tax Specialist, Christiaan Hansen, looks at the implications below. Homeworking Tax...

Digital platforms such as Airbnb can be used to earn income from property in a variety of ways, ranging from the occasional let of a spare room to short-term lets of a holiday home all year round. In this article, Kirsten Hancock explains how income from letting accommodation short term through Airbnb and similar platforms...

Partner Joanne Gibson’s article highlights ten popular benefits-in-kind which can be made available to employees free of tax and National Insurance contributions (NICs), and without any employer NICs charge either. Mobile phones An employer can provide an employee with a mobile phone which can be used privately without an associated tax charge arising. But this...

The recent Autumn Budget announced a new rule affecting loans and other advances made by companies to their shareholders. If you owe your company money, is this something you should be concerned about? Partner Christiaan Hansen discusses the implications. If you are an owner manager of a close company (this is a company which is...

In this article, Partner Andrew Wayness brings important news of changing tax treatment for double cab pick-ups, outlining the considerable implications for both employers and employees. In February 2024, HMRC announced that double cab pick-up trucks would be treated as cars for tax purposes, and then swiftly did a U-turn on this decision following industry...

Trusts can be an extremely useful planning tool for inheritance tax purposes, as well as for family and business succession planning. Partner Christiaan Hansen looks at how trusts and inheritance tax interact as well as outlining the issues and benefits. Tax is one benefit, but preservation of the family assets is another potential advantage of...

Partner Kenny Adamson provides the answers in this month’s Q&A. In which tax year do I declare my dividend payments? Q. I receive dividend payments. The next dividend payment date is 25 April 2025. Would I include this in my 2024/25 tax return, or based on the payment date should it be declared in my...

When starting a new business, most people don’t give much thought to its end at this point. However, after a number of years, even a small one-person business may have built up a valuable customer list and a goodwill value. It is therefore important that a business owner should consider how and when they might...

“To qualify as a furnished holiday let, properties: • must be available for short-term letting to the public for 210 days and actually let for 105 days or more in each tax year. • should not be used as a long-term let of over 31 days for significant periods. The distinction for a furnished holiday...

As the owner of a medium-sized company, you are keen to start a company car scheme for senior staff which encourages them to switch to vehicles with lower emissions. But what tax factors should they be aware of, and could salary sacrifice be the most efficient approach?  Audrey Rankine explains in this article. In line...