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The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the income arising is treated as the settlor’s income for all tax purposes. A
HMRC’s VAT Notice 709/3 entitled ‘Hotels and holiday accommodation’ explains how supplies by hotels and similar establishments such as motels, guesthouses and B&Bs should be treated for VAT
The ‘badges of trade’ tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making by-product of a
If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as Private Residence Relief or PRR. However,
The majority of gifts made during a person’s life, including gifting a home, are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or
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