Blog

14 May 2025

MTD for Income Tax: Jointly held property

If an individual meets the qualifying income test, they will be mandated to comply with the Making Tax Digital for Income Tax (MTD for IT) Regulations. Any income they receive from jointly held property will then be subject to the MTD for IT rules but how will the rules apply?

09 May 2025

Why Do Small Businesses Fail – And How Can You Avoid Becoming a Statistic?

It’s a sobering fact: around 50% of small businesses fail within their first three years.

30 Jan 2025

VAT Update 2 - HMRC v Sonder Europe Ltd [2025] UKUT 00014 (TCC)

Following the last post about this case on 17 January, essentially, Rent to Serviced Accommodation operators have the following options...

17 Jan 2025

VAT Update - HMRC v Sonder Europe Ltd [2025] UKUT 00014 (TCC)

On 14 January, the Upper Tribunal (UT) upheld HMRC’s appeal against the First-tier Tribunal’s (FTT) decision that supplies of accommodation fell within the VAT tour operators’ margin scheme (TOMS). This means that rather than output VAT being charged on the company’s margin, it will now be charged on the value of supplies to travellers.

13 Jan 2025

MTD for Income Tax

Prior to the Autumn Budget, there was hope that the new Labour Government might further delay the introduction of Making Tax Digital for Income Tax (MTD for IT).

20 Sep 2024

FHLs – what do we know now?

On 18 August 2024, the government published draft legislation that will abolish the Furnished Holiday Lettings (FHL) regime from April 2025. Previously, it was uncertain whether the abolition, as originally proposed by Jeremy Hunt, would go ahead. In this two-page factsheet, we outline the proposals and identify some potential planning opportunities.