Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income. You…

If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business…

There are special rules to prevent close companies, generally companies controlled by a small group of individuals, from allowing directors or shareholders…

There are simplified expenses arrangements available for sole traders and business partnerships (with no corporate partner) that allow the use of fixed…

The income generated from land or property in the UK is treated as arising from a UK property business. The underlying legislation…

The salaried member legislation applies to certain members of a Limited Liability Partnership (LLP) whose terms of membership are more like an…

The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in…

Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the…

If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you…

HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why…