The annual tax on enveloped dwellings (ATED) applies where a residential property worth over £500,000 is held by a company and is not commercially let out or used for some other qualifying purpose. This tax currently starts at £3,800 per year but that starting rate will rise to £4,150 from April 2023.
Be aware that the ATED charge for 2023-24 to 2027-28 must be based on the property’s open market value on 1 April 2022 and it is up to the property owner to provide that valuation.
Taxpayers who were required to join Making Tax Digital for income tax (MTD) from April 2026 but have not done so will be signed up automatically. Starting from September 2026, HMRC will use information it holds to identify and register taxpayers it believes to be in...
Salary sacrifice can be one of the most tax-efficient ways to contribute to a pension, particularly for higher earners, employees receiving bonuses and those earning around or above £100,000. But the benefit isn't simply about putting more money into your pension....
HMRC has reconfirmed that supplies of electricity for charging electric vehicles (EVs) at public EV charging points is standard-rated for VAT purposes. Electricity supplied at public EV charging points is subject to VAT at the standard rate of 20%, rather than the...
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