by | Feb 26, 2026 | HMRC notices
The meaning of trade for tax purposes, often referred to as HMRC’s “badges of trade” test helps determine whether an activity is a genuine business or simply a personal hobby. While the test is not definitive, it provides important guidance on how...
by | Feb 12, 2026 | HMRC notices
When a couple separates or divorces, most attention focuses on the emotional and practical aspects. However, it is important to consider the tax implications of transferring assets, as these can have significant financial consequences if not managed carefully. It is...
by | Dec 11, 2025 | HMRC notices
The new rules will allow companies to raise more capital under the following schemes although investors will need to factor in reduced VCT Income Tax relief when assessing opportunities. The Venture Capital Trusts (VCT) and Enterprise Investment Scheme (EIS) are...
by | Nov 20, 2025 | HMRC notices
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits which are taxable, subject to the usual limits: Bereavement...
by | Nov 6, 2025 | HMRC notices
If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays, interest or penalties. The Customs Declaration Service (CDS) is a...
by | Oct 16, 2025 | HMRC notices
The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence rather than domicile. Under the new rules, nearly all UK-resident...
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