Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member’s terms of membership are more akin to the terms of an employee than a partner in a traditional

When renting out property, landlords may have both Income Tax and National Insurance considerations to consider. However, rental income is generally taxable. For individuals, the first £1,000 of rental income is tax-free under the property

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

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

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

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

The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax. The legislation requires the deduction of tax from yearly interest,

The Enterprise Investment Scheme (EIS) is designed to help smaller, higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies. This scheme aims to encourage investment in

Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is

If your business operates in a sector covered by the Money Laundering Regulations, you must be monitored by a supervisory authority to ensure compliance. This article outlines who needs to register with HMRC for anti-money laundering (AML)