The UK tax year runs from 6 April to 5 April. If you move to or from the UK part way through that year, you could be treated as UK resident for the whole year. That can mean UK tax on income you earned while living abroad. Split-year treatment can prevent this. It...
Converting a property? You may only need to pay 5% VAT Building work on an existing property is normally charged at the standard VAT rate of 20%. But if the work converts a building into homes, or changes the number of homes in it, your builder may be able to charge...
Your house, your pension and your family From 6 April 2027, most unused pensions will count towards your estate for inheritance tax (IHT). If your plan relies on passing your pension on tax free, now is the time to review it. “My house is for my retirement; my...
Don’t panic, but don’t ignore it An HMRC enquiry letter does not mean you have done something wrong. It is HMRC’s way of checking that income and gains have been fully declared, the right reliefs claimed and the correct tax paid. That said, HMRC has...
Important changes to consider before accessing your pension savings Many individuals approaching retirement consider taking benefits from their pension schemes. However, accessing certain pension benefits can affect how much you can contribute to defined contribution...
Recent changes to property taxation have increased the pressure on individual landlords. With further changes to property tax rates expected from April 2027, many landlords are reviewing whether holding rental properties personally or through a limited company remains...
