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Ways businesses can reduce fuel bills

Ways businesses can reduce fuel bills

Tensions in the Middle East have increased concerns about potential disruption to global oil supplies. Even where physical shortages do not arise, uncertainty can still push up fuel prices and increase operating costs for UK businesses. Planning ahead can help reduce...
What are dividends and how are they taxed

What are dividends and how are they taxed

A dividend is a distribution of a company’s profits to its shareholders. Companies may pay dividends in cash or additional shares, giving investors a share of the business’s earnings. Dividends are a common way for shareholders to earn income from their...
The Rent a Room Scheme

The Rent a Room Scheme

The Rent a Room Scheme is a set of special rules designed to help homeowners who rent out a room in their home, creating a potentially valuable tax-free income stream. Under the scheme, rent received from lodgers during the tax year is tax-free up to £7,500. The...
Tax if selling a second property

Tax if selling a second property

You may have to pay Capital Gains Tax (CGT) tax when you sell or dispose of a property that is not your main home. This includes buy-to-let properties, business premises, land and inherited property. Your gain is broadly the difference between what you paid for the...
Tax on inherited property, money or shares

Tax on inherited property, money or shares

As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid out of the deceased’s estate before assets are distributed to beneficiaries....