Cash Basis Extension 2024: Key Tax Changes Explained
Cash Basis Extension – Simplifying Tax for Sole Traders & Partnerships If you run an unincorporated business either as a sole trader or in a partnership of individuals, the new Cash Basis Extension brings welcome clarity to how your taxable profits are calculated....
Landlord Tax Avoidance Scheme: HMRC Spotlight & Risks
Landlord Tax Avoidance Scheme: Why Landlords Must Exercise Caution If you’re a property investor, you may have come across what’s often marketed as a landlord tax avoidance scheme — promising tax savings by transferring rental properties into partnerships or...
Capital Gains Tax on Divorce Home UK | Trueman Brown
Capital Gains Tax on Divorce Home UK: What You Need to Know When couples separate or divorce, one of the biggest financial questions is how capital gains tax on divorce home UK rules apply. Understanding how the family home is treated can help you avoid unexpected tax...
HMRC & Landlord Tax Obligations: What UK Landlords Must Know
Unveiling HMRC’s Insight into Landlords’ Rental Income When it comes to landlord tax obligations, many UK property-owners find themselves navigating a complex web of regulatory requirements and compliance risks. In the UK, the HM Revenue & Customs (HMRC) is...
Should You Disincorporate Business? Pros, Cons & 2025 Update
Disincorporate business: Should You Step Back from a Limited Company Structure? If you’re running a limited company and considering whether to disincorporate business, you’re likely navigating a range of tax, administrative and structural issues. At Trueman Brown...
Mileage Claims Loan Interest Explained | Trueman Brown
Can Mileage Claims Include Loan Interest? Many business owners ask about mileage claims loan interest and how it fits within HMRC’s mileage allowance rules. Understanding the distinction between allowable expenses for employees and the self-employed is key to staying...
Top Tax Benefits of Marriage Including Marriage Allowance
Can you benefit from the marriage allowance? If you’re married or in a civil partnership, you may be able to reduce your household tax bill by claiming the marriage allowance. This is a simple tax relief that allows one partner to transfer part of their unused...
Is a derelict property still a residential property for SDLT purposes?
Local accountants and tax advisers, Trueman Brown, advise homeowners of a recent case which considers whether Stamp Duty Land Tax is payable at the residential rates despite a property being in a bad state of repair The issue of whether a derelict a residential...
Replacement Domestic Items Relief Guide for Landlords 2025
Relief for Replacement Domestic Items If you let a furnished or part-furnished residential property, you should be aware of the tax relief available for the cost of replacement domestic items. This relief allows you to claim a deduction for replacing movable...
Termination Payments: What Employers and Employees Need to Know in 2025
Termination Payments: What Employers and Employees Need to Know in 2024 Termination payments are a common feature of employment endings, especially during redundancy, restructuring, or negotiated exits. But not all termination payments are tax-free—and with HMRC...