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Tax-free income from letting a room in your home

Tax-free income from letting a room in your home

by | Sep 25, 2025 | Income Tax

Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make use of spare space in their property by providing a tax exemption on...
Sharing income from jointly held property

Sharing income from jointly held property

by | Sep 25, 2025 | Income Tax

The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their actual ownership shares. However, if the ownership is unequal and...
Unauthorised issue of a VAT invoice

Unauthorised issue of a VAT invoice

by | Sep 18, 2025 | Value Added Tax

Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake. A penalty may be charged by HMRC when an individual or business issues an unauthorised VAT invoice showing or including VAT without being allowed to...