News
We regularly write articles and posts about legislation, Government initiatives, financial news, updates, issues, solutions and opinion pieces.
Tax Due Diligence: Identifying Tax Risks Before You Acquire a Business
Acquiring a business is a significant investment, and understanding its tax position is an important…
Loan Charge Settlement Scheme
HMRC have introduced a new Loan Charge Settlement Scheme following the Government’s response…
Key Tax Considerations Before You Relocate Overseas
Relocating overseas can offer exciting opportunities, whether you are seeking a different…
Temporary Repatriation Facility: An Opportunity for Former Non-Domiciled Taxpayers
The abolition of the UK’s non-domicile regime on 6 April 2025 marked one of the most significant…
Pensions and Inheritance Tax: What the 2027 Changes Mean
From 6 April 2027, unused pension funds are expected to be brought within the scope of Inheritance…
Mandatory Payrolling of Benefits in Kind: What Employers Need to Know
From 6 April 2027, employers will be required to payroll certain employee benefits in kind…
VAT Capital Goods Scheme: What Property Owners and Developers Need to Know
When acquiring, constructing or refurbishing commercial property, VAT recovery is…
Personal Liability Notices: When Can HMRC Hold Company Officers Personally Liable?
A Personal Liability Notice (PLN) can make a company officer personally responsible for…
Cryptoassets and HMRC: Why Now May Be the Time to Review Your Tax Position
HMRC is set to receive significantly more information about UK cryptoasset users as new…
Selling Plant and Machinery: Don’t Forget the Capital Gains Position
When a business sells a piece of plant or machinery, the immediate focus is usually on the capital allowances…
Can a Lifetime Mortgage Reduce Inheritance Tax?
For many individuals, their home is their most valuable asset. As property values have increased…
Form 17, Declarations of Trust and Property Income: A Guide for Married Couples
Many married couples and civil partners own rental properties together…
Pension Drawdown and Retirement Options: Understanding Your Choices in 2026
Reaching retirement is one of the most significant financial milestones in life. Modern pension rules provide…
Capital Allowances: Buildings, Structures, Integral Features and Fixtures
One of the key challenges when claiming capital allowances is determining whether qualifying expenditure relates to…
FRS 102 Lease Accounting Changes: What Businesses Need to Know
Significant revisions to Financial Reporting Standard 102 (FRS 102) are set to transform lease accounting…
Annual Investment Allowance
The Annual Investment Allowance (AIA) is a valuable relief for businesses investing in plant and machinery…
Long-Life Assets for Capital Allowances
When businesses invest in plant and machinery, one of the key considerations for tax relief…
UK Corporate Dividend Exemption: Why the Detail Matters
The UK corporation tax treatment of dividends is often assumed to be…
VAT Group Registration: Streamlining VAT for Related Companies and LLPs
Are you part of a group of related companies or limited liability partnerships…
UK Corporation Tax Group Relief: A Practical Guide
Group relief is one of the most important corporation tax reliefs available to UK corporate…
Understanding Class 1A and Class 1B National Insurance Contributions (Employers)
National Insurance contributions (NICs) are a vital consideration for employers…
Taxation of Interest Income in the UK
Interest earned on savings is a common form of income, yet many people are unsure how…
Taxation of Dividends
A dividend is a distribution of profits by a company to its shareholders…
Living Accommodation Provided by an Employer: Understanding the Tax Implications
Providing living accommodation to an employee can be a valuable part of a remuneration…
Season’s Greetings
We would like to wish all of our clients and associates a Happy Christmas and prosperous 2026…
Deferred Consideration and Capital Gains Tax
When selling an asset, understanding the date of disposal for capital gains tax (CGT) is…
PAYE Settlement Agreements: A Practical Guide for Employers
A PAYE Settlement Agreement (PSA) is a formal arrangement between an employer and…
Autumn Budget 2025 — Summary of Key Announcements
The Chancellor presented her Autumn Budget to Parliament on 26 November 2025, introducing…
Relevant Life Cover
For small businesses, providing life insurance for directors or employees can be…
The Hidden Tax Traps of Building a Home Office Through Your Company
It’s easy to see the appeal that many company directors working from home…
Understanding CT61 Requirements: A Guide for Companies
Companies are required to deduct basic rate income tax (currently 20%) at source and…
Corporate Tax Relief on Goodwill and Intangible Fixed Assets (IFAs)
Understanding the corporation tax treatment of goodwill and other customer-related…
Substantial Shareholdings Exemption (SSE)
The Substantial Shareholdings Exemption (SSE) is a key UK corporate tax relief that allows…
Capital Allowances for Structures and Buildings
The Structures and Buildings Allowance (SBA) provides tax relief for the construction…
High Income Child Benefit Charge (HICBC) — 2025 Guide for Parents
Child Benefit remains one of the most valuable family benefits in the UK, but if your…
Stamp Duty Land Tax Explained
Stamp Duty Land Tax (SDLT) is a tax on land transactions in England and Northern Ireland…
Disguised Employment Within LLPs
Members of a Limited Liability Partnership (LLP) are generally treated as self-employed…
Accounting Provisions and Tax
In business, there are often situations where future costs are likely, but the exact…
Corporation Tax Compliance
Corporation tax compliance is a key responsibility for every company by helping to ensure…
Corporation Tax Deductions for Share Schemes
Companies often reward employees with shares in the business, either by…
Employment-Related Securities (ERS) Reporting
If your business has issued shares, options, or other types of securities to employees or…
Change of Ownership and Corporate Taxable Losses
When a company changes hands, one of the key tax considerations is whether its historic…
Corporate Interest Restriction (CIR)
The Corporate Interest Restriction (CIR) rules, introduced in April 2017, place limits on…
Freezer and Growth Shares
Succession planning is a key concern for many families who wish to preserve and pass…
VAT Considerations When Converting Non-Residential Buildings into Dwellings
As demand for housing continues to rise, conversions of non-residential buildings into…
Associated Companies for Corporation Tax Purposes
The main rate of corporation tax in the UK is at 25%. A lower rate of 19% applies…
Non-Resident Landlords: Understanding the HMRC Scheme
To ensure rental income from UK property is taxed appropriately HMRC operates…
Family Investment LLPs: A Smart Vehicle for Managing Family Wealth
A Family Investment LLP (FILLP) is an increasingly popular structure for managing and preserving…
Corporation Tax Reliefs for UK Companies
With the introduction of the associated companies regime, many UK companies have found…
Changes to the Domicile and Non-Domicile Rules
Under the UK tax system, individuals who are not domiciled…
Museums and Galleries Exhibition Tax Relief
Museums and Galleries Exhibition Tax Relief is available to charitable companies or…
IHT Tax Changes from April 2025 — Key Updates
Recent budget announcements have introduced significant changes to…
Company Resolutions and Meetings: Clarified
Minutes and resolutions are part and parcel of running a limited company; it is especially…
The Company Secretary Role
While the Companies Act 2006 removed the obligation for private companies…
Timeline for the Changes to Companies House
The Economic Crime and Corporate Transparency Act (2023) is reforming…
Video Games Tax Relief for Corporation Tax
A company in the UK can claim Video Games Tax Relief (VGTR)…
Spring Statement 2025
The Chancellor presented her Spring Statement to Parliament on 26 March 2025…
Part-Exchange SDLT Relief for Property Traders
When a house-building company acquires a home from an individual who…
Video Games Expenditure Credits for Corporation Tax
From 1 January 2024, companies can claim Corporation Tax relief under the Video Games…
Film Tax Relief for Corporation Tax
Film tax relief is available in the UK for a film production company, provided…
Companies with Investment Business
An investment company is a business primarily involved in making…
Benefits of Updating the Articles of Association
There are still companies which were incorporated with statutory default…
Payment of Corporation Tax
The method of corporation tax payment depends on the size of the company…
Beneficiaries of Deceased Estates: Understanding Income Tax Implications
Income generated by an estate during the administration period — such as…
Audio Visual Expenditure Credits for Corporation Tax
If a company operates within the creative industries…
Annual Tax on Enveloped Dwellings (ATED)
The Annual Tax on Enveloped Dwellings (ATED) was introduced to combat…
Tax-Efficient Investments in the UK
In the UK, individuals are generally subject to income tax on all income earned…
Life Insurance and Tax Implications
There are generally two types of life insurance products: one that pays…
Tax Relief on Donations to Charity
Individuals are eligible for tax relief when making donations to UK-registered…
Business Investment Relief
UK resident individuals are generally taxed on their worldwide income…
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA)
MTD for ITSA requires sole traders and landlords with qualifying income to maintain…
Company Car Benefit: Understanding the Tax Implications
Employers often provide company cars and sometimes fuel for…
Trading Profit or Capital Gains: Understanding the Tax Implications
In the UK, the capital gains tax rate is currently 24%, while income tax can be as high…
Statutory Residency Rules
In the UK individuals who are considered residents for tax purposes are…
Trusts and Taxation Issues
In simple terms a trust arrangement exists whenever there is a separation between…
Salary Sacrifice
Salary sacrifice is an arrangement between an employer and employee whereby the…
Rollover Relief (RR)
Rollover Relief (RR) is available to companies and traders when they sell a business asset…
Land Remediation Relief (LRR)
Land Remediation Relief (LRR) is intended to encourage businesses to remediate…
Loss Relief for Companies
Companies are typically established with the goal of making a profit. However sometimes…
Loss Relief for Sole Traders
When a sole trader (or self-employed) makes a trading loss it can be utilised in several…
Family Investment Company (FIC)
A Family Investment Company (FIC) is a private company whose shareholders…
Termination Payments: Personal Tax Implications
Termination payments, often arising at the time of retirement or dismissal, can include…
Relief for Married Couples
In this article, we explore the tax reliefs available for married couples and civil partners…
Gift Relief for Capital Gains Tax (CGT)
For CGT purposes a gift made by an individual is treated as a disposal even though no money…
Season’s Greetings
We would like to wish all of our clients and associates a Happy Christmas and prosperous 2025…
Employment Expenses
During employment an employee may incur expenses out of their own pocket. If these expenses qualify as allowable…
Extraction of Property from a Limited Company
As companies grow, they often accumulate surplus funds, which may be invested in non-core assets, such as buy-to-let…
Employee Ownership Trust (EOT): A Smart Succession Strategy for Business Owners
An Employee Ownership Trust (EOT) is a structure that enables businesses to be owned by their employees…
Business Asset Disposal Relief (BADR)
Formerly known as “Entrepreneurs’ Relief” BADR applies when an individual makes a material disposal of a business…
Research & Development (R&D) Tax Relief
R&D tax relief can provide significant financial support to businesses that undertake…
Restricted Securities
When an individual acquires shares in their employer’s company for an…
Residence and Split Year Rules — An Introduction
When an individual comes to or leaves the UK part way…
Double Tax Relief (DTR) — An Introduction
Double Tax Relief is an important mechanism that applies when tax is…
Purchase of Own Shares by a Company
A limited company will typically purchase its own shares when one or more…
Taxation of Residential Property Income
This article looks only at private individuals owning and renting…
Private Residence Relief (PRR)
When an individual sells their only or main residence, Private…
Probate Relief — Stamp Duty Land Tax (SDLT) Exemption
Exemption from Stamp Duty Land Tax is available if a property owned by a deceased estate…
Incorporation Relief — Transferring Property into a Limited Company
Transferring a business into a limited company is considered a disposal by the…
Inheritance Tax — Update
Inheritance tax (IHT) is a complex area of tax that needs careful consideration…
Tax Relief for Small Company Investments
The Enterprise Investment Scheme (EIS) provides tax relief to individuals…
Permanent Establishment in the UK by Non-resident Company
A company not incorporated in the UK is classified as a non-resident company…
Season’s Greetings
We would like to wish all of our clients and associates a Happy Christmas and prosperous 2024…
Hybrid Working — Cloud PCs vs. Remote Desktop
If your organisation allows hybrid working for your staff, where they can work both in the office…
Season’s Greetings
We would like to wish all of our clients and associates a Happy Christmas and prosperous 2023…
Her Majesty The Queen — 1926–2022
We at Best4Business Accountants, extend our deepest and sincere condolences…
Employer 0% National Insurance for Apprentices
If your business employs apprentices or is considering doing so, here is some very useful…
Furlough Update — Final Round of Changes to the Current Scheme
Further to the regular updates made to the furlough scheme on a monthly basis…
IR35 Update — Changes from 6 April 2021
These latest changes may affect only individuals that are engaged by medium…
Personal Liability for Directors
Setting-up a limited company is a straightforward task, but you…
Setting up a Limited Company in the UK
Setting-up a limited company is a straightforward task, but you…
Making Tax Digital (MTD)
The pilot for Making Tax Digital was offered to everyone who was VAT registered in December 2018…
How to use Technology to Improve your Business
Here are 3 topics of methods that you can take to increase your performance…
Five Main Reasons to Outsource your IT Support
Immediate benefits can also be gained by outsourcing IT services…
Annual Expatriate Conference 2019
We are delighted to announce that our Annual Expatriate Conference will be held at CCT Venues, Bank Street, Canary Wharf London on Tuesday 5 February 2019.
What Makes a Strong Password?
In order to pick a strong password, it helps to understand how passwords are guessed by hackers …
GDPR — Six Months On
It has been over 6 months since the General Data Protection Regulation (GDPR) came into…
Six Reasons Why You Should be Preparing for GDPR Today
On 25th May 2018 the European Union General Data Protection Regulation (GDPR) will come into effect.
Annual Expatriate Conference 2018
We are delighted to announce that our Annual Expatriate Conference will be held at the Hilton Hotel, Canary Wharf on Tuesday 13 February 2018.
TRUMPeting Lower US Taxes
Like many Americans living abroad you may be interested to learn the Net Investment Income Tax (NIIT) may be repealed at the end of 2017. Two proposals released by the Joint Committee on Taxation in March 2017 advise removal of the 3.8 percent NIIT which has been in effect since 2013.
Update: What you Need to Know About Upcoming Changes
IR35 remains essentially unchanged although a new and important development takes effect from 6th April 2017. The change only affects individuals that are engaged by public sector entities; from April 2017, as confirmed in the 2016 Autumn Statement, IR35 status will be determined by the client rather than the contractor business.
No Excuse!
Having been on the CIPP website this morning and read what was a rather interesting top 10 (reasons why employers felt they didn’t need to pay the National Minimum Wage) we thought we should compile and share a few of our favourite top 10’s.
Annual Expatriate Conference 2017
We are delighted to announce that our Annual Expatriate Conference will be held at the CCT Venues, Canary Wharf in February 2017. This is a much-anticipated event, particularly by the local US expatriate community here in London.
Merry Payroll
With Christmas having very stealthily snuck up on us, I thought it would be a good time to reflect upon the year in the payroll industry whilst also looking at what we can look forward to in the New Year.
2016 Autumn Statement — Analysis
The 2016 Autumn Statement is potentially the most important announcement we have received from the Government and HM Treasury in decades.
Running a Payroll: How Times Have Changed
Since I started working in payroll many years ago, Real Time Information (RTI) and auto enrolment were nowhere to be seen. The tax code was 647L, SMP (Statutory Maternity Pay) was paid at £123.06 per week with SSP (Statutory Sick Pay) paid at £79.15.
National Minimum Wage Updates
As of 1st October 2016 the new National Minimum Wage rates came into effect for everyone under the age of 25. For anyone aged 25 and over there is no increase in their £7.20 minimum wage as this was increased in April 2016 in the new National Living Wage.
Auto Enrolment — Where are we at?
Now that we are into October 2016, Auto Enrolment is fully up and running for the vast majority of large companies (over 212,000 companies have already staged according to The Pensions Regulator website).
Update: ‘Non-Dom’ Rules, Finance Bill 2017
Budget 2016 announced that the whole package of reforms to the “non-dom” regime in the UK would be legislated in the Finance Bill 2017.
London Top City for American Expats
A new LinkedIn study has shown that London tops the list of most-common workplace destinations for American expats.
Why Knowledge Sharing Is Important
Gone are the days of office segregation and a silo-type working environment. Companies have realised the value of cross-pollination known as ‘data sharing’, while words like innovation, transparency and collaboration all talk to company enrichment. Not convinced? Here are five reasons knowledge sharing is great for your business:
Cycle to Work Scheme
I guess not many people actually take the time to think about or look into a scheme that can benefit the employee by getting to work in a healthy, timely and cost-effective way.
US Taxes: A Personal Journey
With the range of new measures and changes the IRS have recently implemented, most notably the FATCA requirements for banks and financial institutions to identify and disclose details of their US citizens/Green Card Holders clients to the US authorities, we are finding that large numbers of people are suddenly discovering that they have a requirement to file US tax forms…and we can help!
Five Factors to Consider when Designing Benefits Plans
Beyond traditional health-care plans and pensions, employees now expect a broader choice of benefits that reflect their changing needs and lifestyles. Meeting these expectations gives employers an opportunity to differentiate themselves in a competitive market for talent.
Employment Allowance
This allowance was introduced in 2014/15 to provide a saving of up to £2000 (increased to £3,000 for the 2016/17 tax year, only eligible if the company has employees other than directors) from the Employer’s NI bill of any business.
Budget 2016: New Sugar Tax
A new sugar tax on the soft drinks industry to be introduced in two years’ time, raising £520m a year to be spent on doubling funding for primary school sport in England.
Are you a “Foreign Person” selling a “US Property Interest”?
Beginning on 16 February 2016, the rate of withholding tax required by the Foreign Investment in Real Property Tax Act (FIRPTA) will increase from 10% to 15%. FIRPTA imposes Federal tax on the sale of an interest in real property located in the United States by a foreign seller. This 15% rate applies to the Gross Proceeds of the sale irrespective of whether or not there is a profit on sale.