Don’t fall into the trap of paying your simple assessment tax bill twice. Small business owners aim to keep their tax bills as low as possible but this year, many using simple assessment are ending up paying twice! The reason…
What are National Insurance contributions? National insurance contributions are effectively a tax on the money you earn as an employee or profits you make if self-employed. These contributions build up over the years to give you the entitlement to claim…
Uniform Tax Rebate Are you one of the many employees missing out on the Uniform Tax Rebate? Do you wear a uniform at work which you wash, repair and/or replace yourself? If the answer is yes, you may be eligible…
Prepare for upcoming changes to HMRC's VAT late payment penalty and VAT interest charges As of November 2022, all VAT-registered businesses were required to submit their returns via Making Tax Digital software. In line with this, from 1st January 2023,…
All you need to know about Capital Gains Tax on the sale of property in the UK. Are you selling a property in the UK? Do you know how to report the sale of a house if it is liable…
Whilst MTD for Income Tax is not due to come into force until 2024, many questions are being asked already by those getting prepared for the changes now. Below are our answers to some key questions. If you don’t find…
Are you thinking of selling all or part of your company or have you decided to close the business entirely? If yes, you may be eligible for Business Asset Disposal Relief. What is Business Asset Disposal Relief (BADR)? When you…
Are you thinking of buying a holiday home in the UK? One of the first things you should do before making your purchase is to take expert financial advice. The thought of buying a holiday home, promoting it and getting…
A simplified tax reporting system may be coming into play after HMRC announces proposed radical changes to the way businesses are taxed Under the current system, tax returns filed by the self-employed, sole traders and partnerships are based on a…