The Structures and Buildings Allowance (SBA) provides tax relief for the construction costs of non-residential buildings and structures used for business purposes. It applies where construction began on or after 29 October 2018, and the first use of the building is non-residential. Typical qualifying assets include offices, retail premises, factories, and warehouses. Relief is not available for residential properties such as dwellings, student or school accommodation etc. Amo

Stamp Duty Land Tax (SDLT) is a tax on land transactions in England and Northern Ireland. It is typically paid by the purchaser and forms part of the overall cost of acquiring a property. SDLT is paid by completing a land transaction return, self-assessing the duty, and making payment electronically to HMRC. Solicitors or conveyancers usually handle this process on behalf of the purchaser. What is a Land Transaction? A land transaction usually involves acquiring an interest i

Members of a Limited Liability Partnership (LLP) are generally treated as self-employed for tax purposes. However, HMRC has long been concerned that some members, particularly those with a fixed profit share, are not truly partners but are instead working in a way that closely resembles employment. This situation is often referred to as “disguised employment”. Before the relevant “anti-avoidance” rules were introduced, members of an LLP were always taxed as self-employed, eve

Corporation tax compliance is a key responsibility for every company by helping to ensure that businesses contribute fairly while also encouraging proper record keeping and accountability. The rules are complex and can feel onerous for many business owners however, especially when accounting periods don’t align neatly, or when HMRC raises questions about a return. Professional guidance is essential to ensure your corporation tax compliance is managed smoothly and efficiently.

In business, there are often situations where future costs are likely, but the exact amount or timing is uncertain. These are recognised in the accounts as provisions. A provision is an estimate set aside in the accounts to cover an obligation that has already arisen but has not yet been settled. For example, this could be a warranty on goods sold, an expected legal claim, or a debt that is unlikely to be recovered. Are provisions deductible for tax purposes? Tax authorities

Companies often reward employees with shares in the business, either by granting them directly or by offering options that allow...

If your business has issued shares, options, or other types of securities to employees or directors, you are likely to have an obligation...

When a company changes hands, one of the key tax considerations is whether its historic losses can still be used. Tax rules are designed...

The Corporate Interest Restriction (CIR) rules, introduced in April 2017, place limits on the amount of interest and financing costs that...

Freezer and Growth Shares — Succession Planning for a Family Investment Company (FIC) Succession planning is a key concern for many...