Self-employed persons and other individuals who submit a self-assessment (SA) tax return should bear in mind that there are only three months until the electronic filing and payment deadline for 2016-17, 31 January 2018. If you have not filed the 2016-17 SA tax return yet, or at the very least crunched the numbers to work […]

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If you use your home for business purposes, rent out parts of your home whilst you are still in residence or if you rent out your home while you are resident elsewhere, you may need to consider the tax consequences. Use of home for business purposes If the amount of space you use is limited […]

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Basically, you can claim for most expenses that are incurred wholly and exclusively for the purposes of a trade. Unfortunately, most of the decision making by HMRC on this topic is guided by tax law, which has been inconsistent. That aside, the following will provide you with guidance in areas where the outcome is reasonably […]

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Generally speaking, the purchase of any vehicle where there is any element of private use means any reclaim of VAT may be restricted. HMRC’s website offers the following guidance: You may be able to reclaim all the VAT on a new car if you use it only for business. The car must not be available […]

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