How to make this tax break work for you

Millions of married couples and civil partners in the UK are eligible for the marriage allowance, but take-up has remained subdued since the tax break came into force on 6 April 2015.

Almost half of the UK's eligible couples failed to claim their slice of £1.3 billion in marriage allowance cash in 2016/17, with many couples either unaware of the tax break or forgetting to claim it.

It's designed for couples where one partner pays the basic rate of income tax and the other is a non-taxpayer.

Obligations from 1 April 2019 onwards

Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April 2019.

Under the scheme, VAT-registered businesses are required to maintain digital records, complete the VAT return from the digital records and send it electronically to HMRC.

The pros and cons of letting furnished holiday accommodation.

When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from tax reliefs which wouldn't otherwise be available to residential landlords, providing certain conditions are met.

However, there are also several disadvantages associated with letting property as holiday accommodation whether or not the furnished holiday letting conditions are met.

How can you reduce your capital gains tax bill in 2018/19?

Whether you’re a buy-to-let landlord, a shareholder, an art dealer or you fall somewhere in between, the chances are you will be familiar with paying capital gains tax (CGT).

CGT is payable when you 'dispose' of a certain item and make money from the sale, with the amount you're liable for depending on your income and the asset in question.

If there's one thing that keeps us awake at night it's the thought of how many British businesses are failing to claim capital allowances to which they are entitled – worth billions of pounds across the board, according to some estimates.

Capital allowances provide the mechanism for tax relief on certain types of capital expenditure (the purchase of assets such as office furniture, or equipment) essentially providing a deduction against proits.

This month the insider covers:

• Stamp duty tax break saves first-time buyers £284m
• HMRC confirms 'soft landing' for Making Tax Digital
• Inheritance tax receipts reach record high of £5.2bn
• SMEs cite VAT as 'biggest administrative headache'

This month the insider covers:

• Landlords welcome tax incentives for long-term tenancies
• Contractors criticise 'flawed' IR35 test
• 'Tax over-40s to pay for elderly care costs', say MPs
• BCC calls for further delay to digital accounts rollout

This month the insider covers:

• 'Raise the VAT threshold to stimulate SME growth'
• SMEs miss out on business savings interest
• Calls increase for reform of 'flawed' apprenticeship levy
• Working pensioners pay £8.6bn in income tax

A brief guide to the tax implications of IR35.

IR35 is the shorthand name for tax rules concerning the provision of personal services through intermediaries.

These rules came into effect on 6 April 2000, but they were signicantly amended from 6 April 2017 for contracts involving public sector bodies.

Your obligations for reporting travel expenses.

Many employees need to travel as part of their job for various reasons, whether it’s acquiring new customers, working with current ones or attending conferences and events.

The system of benefits and taxation surrounding this essential economic activity is classed as ‘travel and subsistence’ in the eyes of the taxman.