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"Cowboy’ is a term often used to describe a tradesperson who is poor at their work and potentially untrustworthy. Similar to other trades and professions, a small minority of tax agents are cowboys – lacking the necessary tax knowledge, and incompetent in carrying out their work. Worse still, some tax agents are dishonest in their dealings with their clients and HM Revenue and Customs (HMRC).

Mark McLaughlin warns that some ‘tax rebate’ agents promise tax refunds which are inaccurate and lacking in foundation.

Dividends are payments by companies to their shareholders as a way of distributing profits. Because those profits are subject to corporation tax, dividends have been taxed at different rates than interest income and capital gains and are subject to their own tax rules.

Richard Curtis reviews the taxation of dividend income for individuals in for the coming year.

The basic systems for recovering VAT on motoring expenses are:
•    Claim all the VAT back on road fuel and pay the motoring scale charge.
•    Keep a detailed mileage record and calculate the proportion of VAT relating to business mileage.
•    Pay a mileage allowance and keep the fuel receipts.
•    Do not claim back the VAT on road fuel.

Andrew Needham looks at the rules for recovering VAT on motoring costs.

The maximum capital gains tax (CGT) saving on a gain of £1m with the current rate of business asset disposal relief (BADR) of 14% (for 2025/26) is £100,000. 
When the rate increases to 18% from 6 April 2026, the maximum saving reduces to £60,000. 

Ken Moody considers the dwindling benefit of capital gains tax business asset disposal relief and suggests that it may be worth considering other strategies. 

The New Year is typically a month for planning ahead and focussing on our health. The gym is always busier, and the pubs and restaurants are quieter. But are there any tax savings available that can help shed the pounds? 

Tristan Noyes looks at how tax might help with the heavy lifting when it comes to health and fitness, which is often a focus for January as we cling on to our New Year’s resolutions! 

One of the ‘badges of trade' used by HMRC to determine if a trade is being conducted is the presence of a 'profit motive' where the “object of acquiring an asset was to re-sell it at a profit, without any intention of holding it as an investment.” 
However, for various reasons, a business may incur losses instead of profits. The method of loss relief depends on several factors and scenarios.

Jennifer Adams reviews the tax reliefs available to businesses that continue to operate even when making a loss.

When capital assets are disposed of, capital gains tax (CGT) must be considered, but when assets other than ‘real property’ and intangibles like shares are sold, there is the possibility that no tax is payable at all. 

Chris Thorpe outlines the tax rules surrounding chattels upon disposal, in particular wasting assets.

The employment-related securities legislation deals with arrangements involving shares and securities provided by reason of employment where the full value of the employment reward provided to the employee is not included in the salary package and is charged to tax.  

Jennifer Adams considers the tax implications of shares in a family company being awarded or gifted to family members of employees. 

A sole trader looking to expand their business might be weighing up the ‘pros’ and ‘cons’ of a partnership or a limited company. They are very different, with not only very different tax consequences, but functions as well. 

Chris Thorpe looks at partnerships and companies and considers which business model might be best.  

Under the loan relationships rules for companies, debits on loan arrangements are not deductible for corporation tax purposes in some circumstances.

Kevin Read highlights a recent case concerning the loan relationship rules for companies. 

When HM Revenue and Customs (HMRC) opens a tax return enquiry, the natural reaction of most taxpayers is to speculate about the reason why their tax return has been selected. In fact, HMRC does not need an excuse to open a tax return enquiry; a small proportion of tax returns are simply selected at random. . 

Mark McLaughlin looks at whether a taxpayer can find out if an HMRC enquiry has been opened as the result of an accusation made by a third party. 

When considering the tricky matter of remuneration planning, there are two things to consider; the amount of remuneration, and what form it takes. 

Chris Thorpe looks at what to watch out for with regard to paying employees and directors.

Despite the reduction in National Insurance contributions (NICs) in Spring Budget 2024, more employees are paying tax at higher rates on their earnings due to the freezing of tax thresholds. Some may find that any pay rise or bonus attracts additional tax and NICs such that the net pay increase is minimal.  

Jennifer Adams looks at some alternatives to rewarding an employee with a pay rise or a bonus. 

Mark McLaughlin looks at company purchases of own shares and warns not to become too focused on the more difficult rules for capital treatment. 

A company purchase of its own shares from a shareholder is a popular ‘exit’ strategy when an individual shareholder is retiring, or a dissenting shareholder is departing.