-
Making Tax Digital (MTD) : Reporting RequirementsWritten on April 8, 2025 by Kirk Rice LLP
Under MTD, individuals will be required to keep digital records of the amount, category and date of income and expenses relating to each source of self-employed sole trade income or property income. These records must be kept either in MTD compatible accounting software or on spreadsheets. HMRC have confirmed they will not supply free MTD […]
Read More -
Business Mileage And Business Travel – What Can Be Claimed?Written on November 8, 2018 by Kirk Rice LLP
A useful tax exemption is available for payments by employers to employees for business travel in their own cars, up to a certain level ‘approved mileage allowance payments’, i.e. 45p per mile for the first 10,000 miles in the tax year, and 25p per mile after that. Tax relief for use of own car A […]
Read More -
Probate Property Sale – Capital Gains Tax ImplicationsWritten on August 2, 2017 by Kirk Rice LLP
I will cut to the chase immediately and say that there will be no CGT to pay on the sale of the probate property. Let me explain why; CGT is payable on gains only, and that means the ‘profit’ made on the sale. If we ignore to begin with that this was an inherited property, and […]
Read More