Accountants & Tax Advisers

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Tax relief if required to work from home

Tax relief if required to work from home

by | May 1, 2025 | Employment & Payroll

If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses, business travel, and equipment purchases is key to making a successful claim. Eligibility to...
Tax refunds for dissolved companies

Tax refunds for dissolved companies

by | May 1, 2025 | Corporation Tax

Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before dissolution, avoiding costly mistakes and lost opportunities. Dissolving...
Is income from hobbies taxable?

Is income from hobbies taxable?

by | May 1, 2025 | Income Tax

Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project is growing, it might be time to check your tax position and stay compliant. For...
Definition of R&D for tax purposes

Definition of R&D for tax purposes

by | May 1, 2025 | Corporation Tax

When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing legitimate tax benefits and avoiding costly mistakes. An activity...
Tax treatment of income after cessation

Tax treatment of income after cessation

by | May 1, 2025 | HMRC notices

After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures businesses and individuals stay compliant with UK tax law. Under the...