Since the start of COVID-19 in March 2020, the number of people working from home in the UK has dramatically increased. As of January 2023, research shows that 44% of workers in the UK work from home – which translates into approximately 23.4 million people. Many of...
To be allowable as a tax deduction whether under the corporation tax or income tax rules, most expenses must be incurred ‘wholly and exclusively for the purposes of the trade’. Unlike the equivalent rule for employment expenses, the expense is not required to be...
A sole trader or proprietor of an unincorporated business may incur training costs. The tax treatment of those costs depends on whether the costs are regarded as ‘revenue’ or ‘capital’ expenditure. HMRC have revised their guidance in this area, expanding the range of...
Business rates, rather than council tax, are payable on non-domestic properties. The rates are worked out by applying the relevant multiplier to the property’s rateable value. However, there are a number of reliefs that are available which may reduce or eliminate the...
VAT can be confusing at the best of times, with the reverse charge being arguably one of the more complex applications. It does not help that different rules depend on different scenarios. For example, the reverse charge mechanism does not apply in the case of a...
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