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Stewart Accounting Blogs

Tax and termination payments

The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination

Do you need to register for self-assessment?

Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE.

You will usually need to file a

Working out your UK residence status

Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax.

In simple terms, UK residents are normally taxed on

Tax effects of living away from your home

Many homeowners assume that if a property has been their main residence at some point, any gain made on sale will automatically be free from Capital Gains Tax (CGT). Whilst in many cases, this is

Tax-free gifts for Inheritance Tax purposes

Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes.

One of the most commonly used exemptions is the annual exemption. This

Reclaiming VAT on car leasing costs

Businesses that lease cars often assume they can recover all of the VAT charged on car leasing payments. In practice, the rules are more limited.

Where a business leases a qualifying car, HMRC

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