Temporary Repatriation Facility (TRF) – Key Planning Points for Former Remittance Basis Users
The Temporary Repatriation Facility (TRF) is one of the major transitional reliefs introduced from 6 April 2025 for individuals who previously used the remittance basis. In simple terms, the TRF allows qualifying individuals to bring pre-6 April 2025 foreign income and gains into the UK at reduced tax rates of: This can be significantly lower […]
The New Revenue Recognition Rules – What Businesses Need to Start Reviewing Now
Accounting periods beginning on or after 1 January 2026 will need to follow the new revenue recognition requirements introduced by the amendments to Section 23 of FRS 102. These amendments were made to align FRS 102 more closely to the international standard IFRS 15, to improve consistency and comparability, also replacing separate rules for goods, […]
UK VAT Registration for US Companies: Complete 2026 Guide
If you are a US company selling goods or services in the UK, you may be required to register for VAT with HM Revenue and Customs (HMRC). This guide explains who needs to register, the documents required, timelines, and costs, so you can stay fully compliant and avoid penalties. Who Needs to Register for UK […]
Moving to Israel from the UK?
ALIYAH & TAX GUIDE · 2026 Moving to Israel from the UK? Here’s what you need to know about tax. A plain-English guide to the exemptions, the new 2026 laws, and your filing obligations as a new Oleh. The big one: your 10-year tax holiday When you make Aliyah, Israel gives you one of the […]
When Does a Director’s Medical Insurance Become a P11D Benefit?
Many UK directors assume that if a company pays for private medical insurance, it will automatically create a taxable P11D benefit. In many cases this is true – however, there is an important exception that is often overlooked. If the cost is correctly “made good” by the director, the benefit may be reduced or potentially […]
E-Invoicing for B2B Transactions (Expected by 2029)
The UK government is moving toward the introduction of mandatory e-invoicing for business-to-business (B2B) transactions, with implementation expected by 2029 as part of a broader digital tax strategy. E-invoicing refers to the structured digital exchange of invoice data between businesses, rather than sending PDFs or paper invoices. Key anticipated features include: The initiative is expected […]
Annual Investment Allowance (AIA) – Simple Guide for Business Owners
1. Introduction – What is AIA? The Annual Investment Allowance (AIA) allows a business to claim 100% tax relief on qualifying plant and machinery in the year of purchase, up to the annual limit (currently £1 million per 12-month period). Instead of spreading relief over several years through writing down allowances, AIA gives full relief […]
First-Year Allowances (FYA) – What They Are and When They Apply
First-Year Allowances (FYA) allow a business to claim 100% capital allowances in the year the expenditure is incurred, rather than spreading relief over time through writing down allowances. In effect, qualifying expenditure is fully deducted from taxable profits in the period of purchase. Unlike the Annual Investment Allowance (AIA), which is subject to an annual […]
Understanding the Place of Supply for VAT (UK)
For VAT purposes, one of the first questions to ask when supplying services is where the supply takes place. This is known as the “place of supply”, and it determines whether UK VAT needs to be charged. In simple terms: • If the place of supply is in the UK, UK VAT may apply.• If […]
Non-UK Resident Companies and UK Corporation Tax – A Brief Overview
A company that is not resident in the UK can still fall within the UK corporation tax net in certain circumstances. Broadly, this tends to arise where there is a meaningful UK connection — most commonly through a permanent establishment (PE), or through activities involving UK land. The detailed rules sit mainly within the Corporation […]