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Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own.
The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to ensure that where a settlor has retained an interest in
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Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the key test.
When deciding whether an expense is deductible or not it is important to bear in mind that the expenditure must be incurred wholly and exclusively for
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Using your own car or bike for work travel? You may be able to claim tax relief for business mileage.
If you are employed and spend your own money on items needed for your job, you may be eligible to claim tax relief on those expenses. However, you
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Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes.
When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT. Whilst most businesses in the
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